§ Mr. Greville Jannerasked the Chancellor of the Exchequer when he next intends to review the balance between notes and coins.
§ Mr. Denzil DaviesNo date for the next periodic review has been fixed.
§ Mr. Greville Jannerasked the Chancellor of the Exchequer what is his estimate of the average life of a £1 note, a £5 note, a £10 note and a £20 note, and of an average coin of the realm; and what is the approximate cost of producing a bank note and a coin, respectively.
§ Mr. Denzil DaviesThe average life of a £1 note is 10 months, that of a £5 note 18 months, that of a £10 note two years and that of a £20 note 2½ years. A coin may be expected to have a life of at least 25 years.
It would not be desirable, for commercial reasons, to publish the cost of producing bank notes or coins.