Oral question asked in the House of Commons, by Christopher Chope (Conservative). It was answered on Thursday, 30 October 2008 on behalf of the Treasury.

Counterfeit Currency

Question: Is not the biggest scandal not the number of counterfeit coins but the fact that each of these counterfeit pounds in the pocket is worth 14 per cent. less than they were at the time of the last general election? Is not that 14 per cent. devaluation of the pound a tragedy for our country and a reflection of the failure of this Government's economic policies?

Answer: The hon. Gentleman is imaginative in trying to get a dig at the Government. The key point, of which he will be aware, is that we have robust coinage in this country. We have strong enforcement mechanisms to ensure that counterfeit coins and notes are rigorously followed up. The counterfeit note rate represents something like 0.013 per cent. of the average stock of notes in circulation. We take vigorous action in these areas, and I am sure he welcomes that.

Secondary information