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Fiduciary Note Issue (Increase)

Volume 531: debated on Thursday 29 July 1954

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

Yes. To provide for a further seasonal increase in the demand for notes, the Treasury, in agreement with the Bank of England has directed that the fiduciary note issue shall be£1,750 million, an increase of£25 million. The Treasury Minute giving the direction will be laid before Parliament.