§ 40. Sir J. Langford-Holtasked the Chancellor of the Exchequer whether he is aware that recent research has shown that 90 per cent. of all goods sold retail under £10 are valued in terms of shillings and pence; and, as the use of the pound unit for decimal currency will adapt less conveniently to this system of valuation than if the 10s. unit were adopted, what steps he proposes to take to make his adoption of the pound unit more acceptable.
§ Mr. CallaghanThis argument in favour of the 10s. system was given due weight by both the Halsbury Committee and the Government, neither of whom232W accepted the hon. Gentleman's conclusions. It is the function of the Decimal Currency Board to facilitate the transition from the existing to the new currency and coinage.
§ 63. Mr. Hooleyasked the Chancellor of the Exchequer how the new decimal coins of 10d., 5d., 2d., 1d., and ½d. will compare in weight and size with the existing 2s., Is., 6d., 3d., and ld. coins; and if he has decided against the production of any 12-sided coins.
§ Mr. CallaghanI would refer my hon. Friend to the Appendix to the White Paper "Decimal Currency in the United Kingdom" published in December last which gives a detailed comparison of the present with the proposed coinage under the £-new penny decimal system. None of the new coins is twelve-sided.
§ 64. Sir J. Gilmourasked the Chancellor of the Exchequer how many representations he has received from co-operative societies on the subject of decimalisation of the currency and the greater benefits of ease and transfer which would come from adopting the 10s. rather than £1 system; and what replies he has sent.
§ Mr. CallaghanThree. In reply the reasons for the Government's decision to adopt the £ system are being explained.