asked the Minister for Finance if his attention has been drawn to reports (details supplied) that the Central Bank are considering changes in the coinage in consequence of changes apparently being planned in Britain; the connection, if any, he sees between British exigencies and ours in this area; and if he will request the Central Bank, in consultation with the Arts Council, to consider a complete review of the present coinage in point of design, denomination and material.
Ceisteanna—Questions. Oral Answers. - Coinage Change Reports.
2.
I have seen the press reports mentioned by the Deputy. The announcement by the UK authorities of their decision to introduce 20p and £1 coins does not affect the position here. Any decisions on changes in our coinage will be taken in the light of our own circumstances and requirements. As the Minister's predecessor indicated in reply to a written question in this House on 27 May 1980, there are no immediate plans for a redesign of the coinage but the matter is kept under review in my Department and the Central Bank.
Is the Minister of State saying that the reports, the details of which I supplied him with, are false and that the Central Bank never floated the idea of recasting our coinage in line with British coinage changes?
I made inquiries from the Central Bank and they assured me that they were incorrectly quoted in the report.
What did they say?
The bank indicated that the Department of Finance, in consultation with the bank, were reviewing changes in the coinage and in this context would naturally look at any changes which the UK might be contemplating. I can assure the Deputy that the position is as I have given in my reply.
What is natural about it? Why would we naturally review the coinage patterns here in consonance with what happens in Britain? What connection is there between the two currencies since we joined the EMS?
The Deputy was not at the Summit.
Why did the Minister say "naturally"? What is natural about copying the British coinage patterns when we have a completely independent currency?
Nothing at all but we use certain machines——
What is natural about it?
——that would have to be adapted to take some of the new English coins.
Who would be such a fool as to put an English 10p into a box when it is worth 13p or 14p in Irish money?
I am calling Deputy Tully. We are having a debate now.
I collect English coins because of the difference I can get when I go to Britain——
(Interruptions.)
I will move on to the next question if Deputy Tully does not ask a supplementary question.
Does the Minister know of any sovereign State with an independent currency which models its coinage on a different State with a different currency or is it only the Paddys——
(Interruptions.)
The Minister never refused an English pound note when he got it.
Would the Minister say if there is any truth in the rumour that the Irish 10p coin will be revalued to the same value as the punt?
If the Deputy puts down that question I will answer it.
Does the Minister not know?
I know as well as the Deputy does that it is foolish——
May I ask another supplementary?
(Interruptions.)
This is not Question Time; it is a kind of happy hour. Silence will do instead of answers.