Queen could scupper Sajid Javid’s plan to fill tills with Brexit 50p coins

Posted on Aug 11 2019 - 8:15pm by admin

The Chancellor has asked officials to look at whether a fresh batch of the seven-sided coins can be prepared in time for Britain’s planned EU departure date on Halloween. But the Queen’s Privy council of ministers would have to sign this off and they are not due to meet again until October, The Sunday Telegraph reports. With the date on October 31 2019 to be engraved on the piece, Mr Javid’s push for the coins is being viewed as a statement of intent, showing the Treasury is now fully behind Brexit. 

Previous Treasury plans for 10,000 commemorative collectors’ coins, priced at £10 each, were ditched when Britain failed to leave the EU on March 29.

Collectors would have applied for them on exit day and wait for up to eight weeks for delivery in the plans by former chancellor Philip Hammond.

Commenting on Sajid Javid’s plans for the coin, one source told The Telegraph this would make it a “one nation – so that everyone gets a coin, not just a tribal thing that some people buy”.

Tory MP Craig Mackinlay who first raised the idea with the Treasury last year said: “Our joining the then EEC was commemorated with millions of 50p coins minted for general circulation.

“I am really pleased to see that the Chancellor of the Exchequer has announced that our departure from the EU should similarly be marked with a general circulation coin.

“This is a time for national celebration that our independence and new global freedom is with us.” 

The coins will still carry the words “Friendship with all nations” but will be stamped with the new departure date of 31 October 2019 rather than March 29, 2019.

The Royal Mint regularly issues special coins to mark national moments such as the London 2012 Olympics.

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Revelations of the new coin comes days after Mr Javid took a swipe at economic forecasts by predicting that Britain’s economy could come out of a no deal Brexit “even stronger”.

Mr Javid dismissed speculation of a “full-blown recession” – insisting that Britain’s growth rate would even beat Japan and Germany this year. 

He also predicted that Britain will “come out stronger” if the country leaves the EU without a deal.

Mr Javid told Sky News that he was not scared about a no deal Brexit – insisting that such a scenario would do “no damage” to the British economy.

He also claimed that a no deal departure would end the “uncertainty” around Brexit, which he pinned the surprise economic contraction on. 

The Chancellor said the figures “were not a surprise in any way” and represented volatility in the run-up to Brexit at the end of October.

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