§ Mr. Michael Forsythasked the Chancellor of the Exchequer if he will list the average monthly total value of bank notes in circulation issued by each Scottish bank authorised to do so under the Bank Notes (Scotland) Act 1845 from June 1979 to the present date.
§ Mr. Ian StewartThis information is already available in scattered form in theLondon Gazette. I shall write to my hon. Friend providing a synopsis.
§ Mr. Michael Forsythasked the Chancellor of the Exchequer if he will outline the effect variations in the total value of bank notes issued by Scottish banks authorised to do so under the Bank Notes (Scotland) Act 1845 have on the Government's management of the economy.
§ Mr. Ian StewartUnder the present statutory arrangements whereby any increase in banks notes issued by Scottish banks is backed by Bank of England notes or coin, variations in the total value of Scottish bank notes issued have the same effect on the government's management of the economy as equivalent variations in the value of Bank of England notes put into circulation directly.