§ Mr. MitchellTo ask the Chancellor of the Exchequer, (1) pursuant to his answer of 10 June 1998,Official Report, column 585, what profit the Royal Mint has derived from seigniorage on coins issued in each of the last 10 years; [46263]
(2) pursuant to his answer of 10 June 1998, Official Report, column 585, on seigniorage what profit the Royal Mint has derived from seigniorage on coins issued in each of the last 10 years; and if this profit is retained by the Royal Mint. [46966]
§ Mrs. LiddellAny profit "derived" from seigniorage on UK standard coins is not retained by the Royal Mint but instead paid to the Treasury. The figures for each of the last ten years are:
Year £000 1988–89 51,129 1989–90 107,985 1990–91 69,410 1991–92 98,598 1992–93 -18,844 1993–94 47,769 1994–95 93,777 1995–96 88,859 1996–97 214,408 1997–98 86,691 These figures represent the difference between (i) the face value of issued coins and (ii) production costs and reimbursements for redeemed coins less the value of reclaimed metal from redeemed coins.