New 5p. Pieces

Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 21 October 1969.

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Mr. Gresham Cooke:

asked the Chancellor of the Exchequer what further steps he will take to encourage shopkeepers and others to make use of new 5p. pieces instead of sixpences, so as to encourage a sufficient distribution of new 5p. pieces by 1971.

Photo of Mr Dick Taverne Mr Dick Taverne , Lincoln

This is a matter for the Decimal Currency Board, in consultation with trade associations. The Board are doing everything they can to encourage the use of the new 5p. pieces, particularly in change-giving and in this they have my full support. I will gladly consider any suggestions which the hon. Member may care to put forward.

Mr. Gresham Cooke:

Is the hon. and learned Gentleman aware that present indications are that on D-day, which is only 16 months hence, we shall enter that period with a massive surplus of sixpences, and a shortage of shillings and new 5p. pieces, which will be the lowest silver coins? Should not a further effort be made to advertise the necessity for shopkeepers and others to bring the new 5p. pieces into use now?

Photo of Mr Dick Taverne Mr Dick Taverne , Lincoln

I agree that every effort should be made to advertise the need to use the new 5p. pieces. A newsletter was issued by the Decimal Currency Board and widely circulated in trade circles to encourage retailers to alter their change-giving habits to use the new 5p. pieces more widely than has been the case until now.

Photo of Mr Jon Rankin Mr Jon Rankin , Glasgow Govan

Will my hon. and learned Friend discourage the use of the new 50p. piece because of the possible confusion with the 10p. piece?

Photo of Mr Dick Taverne Mr Dick Taverne , Lincoln

Certainly I will not, However, that is a different question.

Earl of Dalkeith:

Is it not asking for trouble to produce new decimal coins of almost identical size and weight, as in the case of the new 50p. and 10p. coins? Will the hon. and learned Gentleman look urgently at some means of producing an alternative coin which is larger or a paper note to take the place of the new 50p. coin?

Photo of Mr Dick Taverne Mr Dick Taverne , Lincoln

I realise the hon. Gentleman's concern, but he will have noticed that the new 50p. coin is of a different shape.