Clause 36 - Banks authorised to issue banknotes in Scotland and Northern Ireland

Part of Bank of England and Financial Services Bill [Lords] – in the House of Commons at 5:30 pm on 19 April 2016.

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Photo of Richard Burgon Richard Burgon Shadow Minister (Treasury) 5:30, 19 April 2016

I support amendments 4 and 5, which were tabled by Jonathan Edwards. In Committee, the Minister highlighted the presence of the Royal Mint in Cardiff and its role in the production of our coins. In reflecting on that, it is worth noting that the pound coin reflects each nation, with the royal arms, the three lions and the oak tree for England; the thistle and the lion rampant for Scotland; the flax plant and the Celtic cross for Northern Ireland; and, of course, both the dragon and the leek for Wales. Since 2010, we have had pound coins celebrating the capital cities in the floral emblems of each nation of the United Kingdom. It therefore seems anomalous that Scotland, with its own Parliament, has its own banknotes and that Northern Ireland, with its own Assembly, has its own unique banknotes, yet that Wales, with its own flourishing Assembly, has no national identifier for circulating currency.