§ Lord Killearn
asked Her Majesty's Government:
What is the cost of paper and other materials, and what is the cost of printing, each type of banknote currently in circulation.
§ The Secretary of State for Trade and Industry (Lord Young of Graffham)
In the year to 28th February 1989 the direct cost of paper and other materials used in the production of Bank of England notes was £8.6 million. The total cost of note production was £33.0 million, and the average cost of banknote just under 3p; £5 notes cost a little less than that average, and £20 and £50 notes somewhat more.