§ 9. Mr. Maxwell-Hyslop
asked the Chancellor of the Exchequer when he authorised the issue of notes of £10 denomination.
§ Mr. Maxwell-Hyslop
Can my hon. Friend give any indication to the House when this decision, taken in November, 1959, is likely to be implemented, because many banks for some time have had on their paying-in slips a column for a note of this particular denomination? Would he endeavour to examine the notes before they are issued so that, unlike the new issue of £5 notes, they shall not smell like a French newspaper?
§ Mr. du Cann
In answer to the last supplementary question, this is a matter for the Bank of England, but I shall certainly draw my hon. Friend's remarks to its attention. In 1959 the Bank of England announced the issue of a series of four new notes. The new £1 note appeared in March, 1960, the new 10s. note in October, 1961, and the new £5 note in February, 1963. It is hoped to issue the new £10 note—I agree there is a need for it—early in 1964.
§ Mr. Lipton
Would it be asking too much of this depreciated Government to issue £1 notes which are really worth 20s.? The people would appreciate that much more.