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.”



Related Articles

HMRC to open high-tech Edinburgh hub
17 June 2019

Plans to relocate almost 3,000 civil servants to a new office building in Edinburgh city centre have...

Digital sector generates joint highest number of FDI projects, finds EY
5 June 2019

With 16 FDI projects based in the digital sector north of the border, EY rated Edinburgh, Glasgow and Aberdeen in the top ten UK cities outside of London for attracting investment

Scotland must move to a low carbon economy more quickly, says Nicola Sturgeon
2 May 2019

STUC warns only 46,000 jobs had been created in the Low Carbon Renewable Energy sector, despite previous Scottish Government forecasts for 130,000 new jobs to be delivered by 2020

Related Sponsored Articles

Associate feature: The age of the multi-cloud is here
7 May 2019

BT explores how to manage the risks and rewards of the cloud in their infographic guide, offering advice for ensuring that the challenges don't hold you back 

Associate feature: Balance the risk and reward of the cloud
29 April 2019

A global cloud infrastructure offers many potential benefits, but also many challenges, and every organisation’s hybrid cloud strategy is unique. BT presents practical advice on getting the most...

Associate feature: Clouds are secure, are you using them securely?
23 April 2019

BT presents a complimentary copy of Gartner's report, which highlights how, through 2022, at least 95% of cloud security failures will be the customer's fault

Share this page