§ Mr. Ashtonasked the Chancellor of the Exchequer (1) whether he is aware that banks are short of pennies, since the metal value of the coin is 20 per cent. more than its face value, and that it is therefore in great demand by scrap metal dealers; and what action he proposes to take to remedy this situation;
(2) asked the President of the Board of Trade if he is aware that the banks are unable to provide traders with pennies for change; and, in view of the fact that many articles are of a fixed weight and sold in units of one penny, if he will take steps to make more pennies available.
§ Mr. TaverneMy right hon. Friend is aware that there is a shortage of pennies in some areas. The minting of 507W pennies has, however, been increased to meet the demand and any shortages should be local and temporary. It is illegal to melt down pennies and I have no evidence that this is being done.