And finally…Hammond to announce new 50p Brexit coin

And finally...Hammond to announce new 50p Brexit coin

Chancellor of the Exchequer Philip Hammond is today expected to announce the creation of a new 50 pence coin to commemorate Brexit during his Budget announcement in the House of Commons this afternoon.

Accoridng to The Sun newspaper, he will take the chance 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.



The reports suggest Mr Hammond has already 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”.

 

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