Philip Hammond set to announce new 50p coin to commemorate Brexit

Written by John Johnston on 29 October 2018 in News

The new coin is expected to bear the phrase “Friendship with all nations”

Image credit: PA

Philip Hammond is set to announce the creation of a new 50 pence coin to commemorate Brexit.

The Chancellor will use today’s Budget to confirm the minting of the new coin, in a move that will be viewed as an attempt to win over disgruntled Leave-backing MPs in the Tory party.

The coin, expected to bear the phrase “Friendship with all nations”, will be released at 11pm on March 29th next year when the UK officially leaves the European Union.

According to The Sun, Hammond has now ordered the Royal Mint advisory committee to draw up a final design for the coin, which will require personal sign off by the Queen.

The move comes after lobbying from Tory MPs, including former Foreign Secretary Boris Johnson, for a coin to be produced which would mark the “monumental moment in British history”.

Hammond has been accused by his own backbenchers of being pro-remain in recent months, with Jacob Rees-Mogg, chair of the European Research Group of pro-Brexit Tory MPs, branding his departments analysis of the costs of Brexit as “dodgy Project Fear”.

But it is believed plans for the new coin had been circulating within the Treasury for months before the lobbying campaign.

A source close to the Chancellor said: “It’s an historic moment which will rightly be commemorated.”

The announcement follows a refusal from the Royal Mail to produce a commemorative stamp to mark the occasion, saying that Brexit remained too “politically controversial.”

Tags

Categories

Related Articles

Digital workshops launched for Inverness businesses
13 February 2019

Workshops will provide businesses with guidance on the use of digital channels to help increase sales, increase brand awareness and improve customer support

The UK's allies are now in no doubt that Theresa May is hopelessly capricious
5 February 2019

Theresa May is on a fool’s errand to demand the EU acquiesce to demands she previously said could not be met

Scotland can help show the world what real economic progress could look like
21 January 2019

Dr Katherine Trebeck, Policy and Knowledge Lead at the Wellbeing Economy Alliance, on how Scotland can help design an economy in service of the collective good

Related Sponsored Articles

Associate feature: Don’t let security cloud your views on digital transformation
16 April 2019

89 per cent of organisations say digital transformation is key to delivering their business strategy, and see a need to move to the cloud to achieve this. BT explains how to dispel myths about...

Associate feature: Encourage an open ethos to secure your organisation
2 April 2019

BT's CISO public sector, Hugh Tatton-Brown, joins Tech Talk’s recent podcast to discuss the current state of the security...

Associate Feature: Not all ethical hackers are equal
26 March 2019

At a time when global organisations are trying to keep costs low to be competitive, BT details how security testing is not...

Share this page