§ 10. Mr. David Watkins
asked the Chancellor of the Exchequer if he will take steps to introduce a new banknote, to the value of 250 new pence, when decimal currency becomes operative in 1971.
§ Mr. William Rodgers
No, Sir; I have seen no evidence that a note of this denomination is necessary, or would be convenient.
§ Mr. Watkins
Nevertheless, is my hon. Friend aware that, with the growing circulation and popularity of the £5 note, it is now quite frequently tendered for quite small payments, and that there is a genuine need for some intermediate denomination of note, as suggested in my Question?
§ Mr. Rodgers
Nobody would wish to be dogmatic for all time on this matter. The important issue is that of convenience in the light of experience. I certainly would not object to keeping an open mind.