§ Mr. Michael Brownasked the Chancellor of the Exchequer how many Sp pieces are in circulation in the economy; what has been the increase in the number of 5p pieces since the increase in telephone charges from public call boxes; and what has been the effect on the money supply.
§ Mr. Peter ReesThe number of 5p pieces estimated to be in the hands of the banks and the public is 1,800 million.
Approximately 47 million have been issued to the clearing banks since the 35W increase in telephone charges from public call boxes on 1 January 1980. However, in anticipation of the change in telephone charges the Royal Mint issued 51 million Sp pieces in the last quarter of 1979. Any additional demand for 5p pieces is likely to have a negligible effect on demand for money as a whole in relation to the stock outstanding of £56 billion on the sterling M3 definition.
§ Mr. Michael Brownasked the Chancellor of the Exchequer what is the total value of the coinage in circulation.
§ Mr. Peter ReesThe total face value of the coinage in circulation on 29 February 1980 in the United Kingdom, ie, including Northern Ireland, is estimated to be £633 million.