Clause 199
Banking Bill
6:15 pm
Angela Eagle (Parliamentary Secretary, HM Treasury; Wallasey, Labour)
A tradition that does no particular harm and is particularly welcome in Scotland. A different debate goes on in Northern Ireland about the practice. The Government do not wish to see that tradition draw to a close by enacting legislation that would ban it; it is appreciated particularly in Scotland. We are not seeking to discourage note-issuing commercial banks from continuing to issue their own banknotes, but it is a privilege and is not a right that should be open to all. It is not a commodity that should be bought and sold. It is an historical quirk that we can support, but for obvious reasons, we would not seek to revive or expand it. The hon. Member for Dundee, East is getting to his feet.