§ Mr. Peter Bruinvelsasked the Chancellor of the Exchequer if he will consider introducing a higher denomination note, such as a £2.50 note, to replace the £1 note.
§ Mr. Ian Stewart[pursuant to his reply, 9 January 1985, c. 486]: The case for a higher denomination note, between £1 and £5, was fully considered before the introduction of the £1 coin and the decision to replace the £1 note. But recent experience of double unit notes, for example in the USA and France, does not suggest that it would be justified. The current purchasing power of £2.50 is approximately the same as that of the 10s note when it was withdrawn in 1970.