---

Treasury

Answer

Mr. Livsey: To ask the Chancellor of the Exchequer what options are under consideration for the Royal Mint; and if he will indicate in respect of each option whether consultants have been engaged. [49417] Mrs. Liddell: The terms of reference for the review of public/private-partnership options for the Royal Mint are: To advise Treasury Ministers on the options for a public/private partnership for the Royal Mint to enable it to take advantage of new commercial opportunities. In considering these options, the review will take into account the views of affected stakeholders and assess the implications for: the security and competitiveness of supply of UK circulating coins; the net cost to Government of UK circulating coins; possible UK entry into stage 3 of economic and monetary union; enhancing the Royal Mint's ability to take advantage of existing and new commercial opportunities; the public-policy aspects of coinage, including design, choice of denominations and commemorative issues; the staff of the Royal Mint, including their conditions and terms of service; the need for, and requirements of, legislation; and the speed with which change can be implemented. The review will also employ consultants to advise on (i) potential purchasers and partners, including institutional investors, for the Mint; (ii) the current market for coin supply, feeding into our consideration of how privatisation might be effected and competitiveness of supply ensured; and (iii) the impact of the euro. The review will report to Treasury Ministers by the end of September. All options, including full and partial sale and other forms of private-sector involvement, will be considered by the review.

Secondary information

Type

Written question

Reference

49417; 315 c569W

Session

1997-98

Subjects

Consultants Joint ventures Private sector Privatisation Public sector Reviews Royal Mint