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Bank Notes (High Denominations)

Volume 388: debated on Thursday 22 April 1943

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asked the Chancellor of the Exchequer whether he has any statement to make about the continued issue of bank notes of high denominations?

Yes, Sir, with my concurrence the Bank of England propose to cease forthwith to issue bank notes of the denominations of £10 and upwards and will withdraw those already issued as opportunity offers. One object of the change is to simplify the production and handling of the Note Issue. It will also provide an additional handicap for those who may contemplate breaches of Exchange Control or other Regulations.