§ Mr. Greville Jannerasked the Chancellor of the Exchequer whether, in view of the fall in the value of the £ sterling, he will now arrange for the issuing of a £1 coin.
§ Mr. LawsonI have nothing to add to the reply my right hon. Friend gave to the hon. Member for Derby, North (Mr. Whitehead) on 21 February.—[Vol. 927, c.327.]
§ Mr. Greville Jannerasked the Chancellor of the Exchequer (1) whether he will consult the authorities of the Isle of Man concerning the effect of the introduction of £1 coins in the Isle of Man in 1978;
(2) whether he will instruct the Royal Mint to consult the Manx authorities regarding problems raised by their issue of a £1 coin.
§ Mr. LawsonAny problems experienced by the Manx authorities by their issue of a £1 coin are solely matters for those authorities.
§ Mr. Greville Jannerasked the Chancellor of the Exchequer whether he will hold consultations with the Bank of England concerning the issue of a £1 coin.
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§ Mr. LawsonThe Bank of England has been associated with the consideration already given to this matter but no decision has been reached.
§ Mr. Greville Jannerasked the Chancellor of the Exchequer how long he estimates that a £1 coin will remain in circulation; and how long he estimates that a £1 note is likely to remain in circulation.
§ Mr. LawsonThe £1 note continues to play a useful role in our currency, and although its replacement by a £1 coin is under consideration no decision has been reached and no early action is contemplated. No £1 coin is at present in general circulation.