Decimal Currency (Scottish Banknotes)

Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 18th July 1967.

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Photo of Mr James Dempsey Mr James Dempsey , Coatbridge and Airdrie 12:00 am, 18th July 1967

asked the Chancellor of the Exchequer what are Her Majesty's Government's proposals, after the introduction of decimal currency, for the printing of Scottish banknotes by the Scottish banks; and if he will make a statement.

Photo of Mr Niall MacDermot Mr Niall MacDermot , Derby North

No, Sir. I see no reason to change the current arrangements for the printing of notes by the Scottish banks.

Photo of Mr James Dempsey Mr James Dempsey , Coatbridge and Airdrie

Do I take it that Scottish banks will continue to print notes and that they will be part of the decimal system when it is introduced? Can my hon. and learned Friend say if he will take advantage of the situation to make Scottish banknotes legal tender?

Photo of Mr Niall MacDermot Mr Niall MacDermot , Derby North

On the first point, there is no reason for decimalisation in any way to affect the right of Scottish banks to issue their own notes. On the question of making Scottish notes legal tender, I can only refer my hon. Friend to the answers I gave him the last time he raised the matter.

Earl of Dalkeith:

Is the Minister aware that people in Scotland will generally welcome the decision to allow Scottish banknotes to go on being printed, and that as long as the Government adhere to the £ basis for the decimal system this should have no effect on the position?