§ Mr. NichollsTo ask the Chancellor of the Exchequer (1) when he last considered the privatisation of the Bank of England printing works at Loughton, Essex; what conclusions were reached; and what is the latest estimate of the proceeds that would accrue from such a privatisation;
(2) if he will make it his policy to seek competitive tenders for the production of Bank of England bank notes; and if he will make a statement.
§ Mr. MaplesThe printing of bank notes is the Bank of England's responsibility. The bank is, however, fully conscious of the need to ensure that bank notes are produced as cheaply as possible, consistent with maintaining the security and integrity of the note issue and it has assured me that it will take whatever steps it considers necessary to achieve that.