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Fiduciary Note Issue (Increase)

Volume 498: debated on Wednesday 2 April 1952

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asked the Chancellor of the Exchequer if he will make a statement about the fiduciary note issue.

Yes. In anticipation of the seasonal increase in the demand for notes the Treasury, acting under the power conferred by Section 8 of the Currency and Bank Notes Act, 1928, as subsequently amended, have authorised an increase in the amount of the fiduciary note issue by £50 million to £1,450 million as from the 1st April, 1952, for a period of not more than six months.The Treasury Minute will be laid before Parliament.