HC Deb 19 June 2002 vol 387 cc393-4W
Matthew Taylor

To ask the Chancellor of the Exchequer what estimate he has made of the cost of the withdrawal of £5 notes announced by the Bank of England on 27 May; by what means he reached the figure; and if he will make a statement. [63208]

Ruth Kelly

Following reports that it is possible to remove the serial number from some of the new issue £5 notes, the Bank of England took the precautionary measure of asking the commercial banks and the Post Office to suspend issuance. The Bank is continuing to carry out tests and investigative work on the notes to establish the cause of the fault, how widespread it is and the best way to rectify it. At present it is too early to estimate the potential cost of the exercise.

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