Written question asked by Gordon Prentice (Labour) on Monday, 14 June 2004, in the House of Commons. It was due for an answer on Monday, 21 June 2004. It was answered by Ruth Kelly (Labour) on Monday, 21 June 2004 on behalf of the Treasury.

Treasury

Question: To ask Mr Chancellor of the Exchequer, what recent estimate he has made of the number of counterfeit notes in circulation; and what steps he is taking to make counterfeiting more difficult.

Answer: Mr. Gordon Prentice: To ask the Chancellor of the Exchequer what recent estimate he has made of the number of counterfeit notes in circulation; and what steps he is taking to make counterfeiting more difficult. [179221] Ruth Kelly: The Bank of England, which produces and issues most UK banknotes, records the number of counterfeit notes discovered in circulation. In recent years, this number has remained at a very small fraction of 1 per cent. of the total number of notes in circulation. The Bank ensures that its notes are designed to discourage counterfeiters. The current series of notes in circulation have certain security features, which not only make it difficult to counterfeit notes, but also make it easy to determine whether or not a note is genuine. To assist the public with identifying counterfeit notes, a leaflet entitled "Know your Banknotes" is available upon request or downloadable from the Bank's website. This describes the identity and security features of current notes, and provides advice on how to check for counterfeits. When notes are introduced or withdrawn from circulation, this is advertised prominently in the national and local press and via posters and leaflets. This also minimises the risk of counterfeits of old series notes being passed and accepted.

Secondary information