UK Politics

Brexit: Chancellor plans 50p coins to mark UK leaving EU

Coin Image copyright HM Treasury
Image caption The coin will look similar to a previous design - but with a different departure date.

Chancellor Sajid Javid is drawing up plans for millions of commemorative 50p coin to be issued when the UK leaves the European Union later this year.

Mr Javid has asked officials to see whether it would be possible to produce the coins in time for the UK's scheduled departure date of 31 October, according to the Daily Telegraph.

His predecessor Philip Hammond planned a collectors' version of the coin.

However Mr Javid hopes to mint a similar 50p piece for mass circulation.

Government officials said the move was a statement of intent that the Treasury is dedicated to leaving the EU.

In October last year Mr Hammond announced plans for around 10,000 coins to be sold to collectors for £10 each.

However, beyond a few test versions, none of the coins were minted after the UK delayed its departure from the EU.

The government said the trial coins did not come at a cost to the taxpayer.

The new coins will carry the same design, bearing the words "peace, prosperity and friendship with all nations" but will be updated with the new departure date.

A 50p coin was struck when the UK joined the European Economic Community in 1973 and when the UK held the presidency of the EU in 1998.

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