HC Deb 05 December 1967 vol 755 cc263-4W
65. Mr. J. E. B. Hill

asked the Chancellor of the Exchequer what is the definition of the word, billion, when used in Government publications.

Mr. Diamond

Because of the differing traditional usages in this country and in the United States of America, it is usual to avoid reference to the term "billion", except where the context makes its sense unambiguous. Applied to United States currency "one billion" means according to the accepted international practice, "one thousand million".