§ Lord Marlesfordasked Her Majesty's Government:
Which banks issue notes which are legal tender throughout the United Kingdom; what is the highest denomination note currently issued by each such bank; and what is the Government's policy on the issue, use and availability of high value bank notes. [HL2936]
§ Lord McIntosh of HaringeyNo bank issues notes that are legal tender throughout the UK. All current Bank of England notes (£5, 10, 20, 50) are legal tender in England and Wales, but not in Scotland or 55WA Northern Ireland. Notes issued by the commercial banks in Scotland and Northern Ireland are not legal tender anywhere in the UK.
The Bank of England takes into account public demand when it issues banknotes. Demand is low for the Bank's £50 note and the Scottish and Northern Irish £100 banknotes. As a result, the Bank has no plans to issue a note above the value of £50 in the foreseeable future.