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Written question asked by Andrew Rosindell (Conservative) on Wednesday, 12 May 2021, in the House of Commons. It was due for an answer on Monday, 17 May 2021. It was answered by John Glen (Conservative) on Tuesday, 18 May 2021 on behalf of the Treasury.


Currencies

Question

To ask the Chancellor of the Exchequer, for what reason the Manx pound has not been approved for use as legal currency in the UK.

Answer

The Isle of Man is not part of the UK, but is a self-governing dependency of the Crown, and issues its own currency that is governed under Manx law.

It is also not the case that payment between contracting parties in the UK must necessarily be made using a specified method of payment. It is a matter for the prospective parties to a contract to stipulate whatever form of payment they wish.


Secondary information

Type
Written question
Reference
629
Session
2021-22
Subjects
Currencies
Link
View this Written question on www.parliament.uk