Written question asked by Mims Davies (Conservative) on Friday, 17 February 2017, in the House of Commons. It was due for an answer on Wednesday, 22 February 2017 (named day). It was answered by David Gauke (Conservative) on Wednesday, 22 February 2017 on behalf of the Treasury.
Coinage: Forgery
- Question
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To ask Mr Chancellor of the Exchequer, what recent assessment he has made of the effect on the national economy of counterfeit coinage within general distribution.
- Answer
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Maintaining a coinage that is robust against the threat of counterfeiting is an important objective for HM Treasury as the issuing authority for UK coins. It is important to have a currency in which there is widespread confidence as well as protecting taxpayers and businesses from the cost of counterfeit coins.
HM Treasury and The Royal Mint work together to closely monitor the counterfeiting levels of UK coins.
On 28 March 2017, a new 12-sided £1 coin will be introduced to combat high levels of counterfeiting of the current £1 coin. Approximately one in thirty of the current £1 coins in circulation are counterfeits.
Secondary information
- Type
- Written question
- Reference
- 64082
- Session
- 2016-17
- Subjects
- Coinage Forgery
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2020-11-02 11:42:18 +0000
- URI
- http://data.parliament.uk/writtenparliamentaryquestion/commons/2016-17/64082
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