Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, with reference to the Answer of 1 April 2014, Official Report, column 625W, on coinage, whether he has fixed the dates for the public consultation on the impact of the introduction of a new one pound coin.

The Budget announced that the existing £1 coin will be replaced with a more modern and secure design. After thirty years in circulation, the current coin has become vulnerable to counterfeiting.

There will be a public consultation this summer that will focus on how to manage impacts on industry and other affected parties. The government remains committed to this timetable, and to working with industry to minimise costs and disruption.

The precise dates of the consultation period will be published in due course.