§ Mr. Wheelerasked the Chancellor of the Exchequer if, given the limited period of circulation of the £1 Bank of England note, he will consider the early introduction of a £1 denomination coin, which 197W can be expected to have a life of at least 50 years.
§ Mr. LawsonThis is an issue which no doubt my right hon. Friend will be considering in due course.
§ Mr. Wheelerasked the Chancellor of the Exchequer if he will now implement the recommendations made in the report "Decimal Currency in the United Kingdom", Cmnd. 3164, 1966, paragraph 20, and remove the adjective "new" from the reverse design of the decimal coins; and if he will also consider adopting a new range of designs for the reverse of currency coins.
§ Mr. LawsonI plan to introduce the necessary legislation for the removal of the word "new" from the coinage as soon as possible. In the meantime, the design of the coinage will be kept under review.