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Article: Time to bring back pounds 1 note! CAMPAIGN: MP says ditching pound coin would cut counterfeiting.
- Article from:
- Birmingham Mail (England)
- Article date:
- April 15, 2009
CopyrightCOPYRIGHT 2009 Birmingham Post & Mail Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Justine Halifax
A MIDLAND MP is campaigning to bring back the pounds 1 note.
The call from Lichfield's MP Michael Fabricant follows the recent revelation that up to 20 per cent of pounds 1 coins are suspected to be counterfeit and fears that counterfeiting could only get worse as the recession deepens.
It also comes after the MP himself was "caught out" in the House of Commons.
Mr Fabricant said: "The US dollar is worth less than the pound yet it is a paper note rather than a coin.
"In Europe, there is growing evidence that the Euro coin is also being counterfeited.
Even I have been caught out. Some months ...