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Mr. Proctor
asked the Chancellor of the Exchequer what is his policy on the implementation of a future computerised system of purchase by personal credit, which could lead to the eventual withdrawal from circulation of all notes and coinage.
Mr. Lawson
There are certain advantages to be gained by developments in the computerisation of payment systems such as a reduction in the use of notes and coins. Given that this is a complex subject, the full implications of any particular scheme will need to be considered as more detailed proposals emerge.