HC Deb 03 December 1980 vol 995 cc115-6W
Mr. Greville Janner

asked the Chancellor of the Exchequer (1) when were the last five occasions when the denominations and specifications of British coin age we re reviewed; and when the next review will take place;

(2) when were the last five occasions when the proportions of notes and coins in circulation were reviewed; and when the next review will take place.

Mr. Lawson

The last major review of the coinage was in the context of decimalisation but the composition of the coinage is regularly examined to ensure that the range of notes and coins is convenient for most purposes.

Mr. Greville Janner

asked the Chancellor of the Exchequer by what percentage the value of the denominations of the notes And coins in circulation has fallen since the last occasion when the denominations arid specifications of the coinage were altered and the last occasion when the proportion of notes and coins was altered.

Mr. Lawson

In October 1980, the latest period for which information is available, the purchasing power of a given denomination of note or coin in circulation had fallen by 12 per cent. compared with February 1971, when

Mr. Peter Rees

All member States of the European Community charge either excise duty or VAT on oil products, in many cases both. The following table sets out the rates of duty and VAT on the main products.

decimal coinage was introduced, and by 74 per cent. compared with October 1969, when the; 10p piece replaced the 10s. note.