§ Mr. Alfred MorrisTo ask the Chancellor of the Exchequer what further representations have been received about the size of print and colours of the new series of £5, £10 and £20 bank notes; what replies have been sent; what action he has taken; and if he will make a statement.
§ Mr. LamontThe design and issue of Bank of England banknotes is the responsibility of the Bank. I am advised that about 800 letters have been received, commenting on various aspects of the design of the new series "E" notes. Replies have explained the Bank's objectives in designing and printing banknotes, which are to achieve an appropriate blend of security features, distinguishing characteristics and cost effectiveness.
The Bank announced on 15 February that, in response to public comment, changes are being made to the denomination numerals on the £5, £10 and £20 notes. The revised £5 note was issued on 1 March and the revised £10 and £20 notes are expected to be issued later this year.