Bank of England

HC Deb 10 June 1998 vol 313 c585W

Mr. Mitchell

To ask the Chancellor of the Exchequer what profit the Bank of England has derived from seigniorage on notes and coin issued in each of the last 10 years. [44452]

Mrs. Liddell

Any profits 'derived' from the note issues are not retained by the Bank of England but are paid to the Treasury. The profits of note issue for each of the last ten years are:

Year	£ million
1988–89	1,368
1989–90	1,905
1990–91	2,546
1991–92	1,875
1992–93	1,556
1993–94	1,117
1994–95	967
1995–96	1,294
1996–97	1,218
1997–98	1,528

Note:

Year to end February

The Bank of England does not issue coins thus has no seigniorage on these.