The Economic Secretary to the Treasury (Nicky Morgan)
On 27 March 2012, my hon. Friend the Member for Norwich North (Chloe Smith), the then Economic Secretary, announced to Parliament, through a written ministerial statement, Official Report, column 107WS, the commencement of a triennial review for the Royal Mint advisory committee on the design of coins, medals, seals and decorations.
I am now pleased to announce the completion of the review.
The advisory committee was established in 1922 with the personal approval of King George V. It exists to raise the standard of numismatic and medallic art in Britain and is expected to ensure that designs meet high standards of art, decency and good taste. Its purpose is to advise Government Departments, and ultimately the Queen, on matters of design with respect to coins, medals, seals and decorations. The eight members and the chair of the committee receive no payment for serving, but may claim reasonable expenses incurred in attending meetings, which are funded by the Royal Mint Museum. Expenses, if claimed, are paid by the Royal Mint.
The triennial review was conducted in accordance with Government guidance for reviewing NDPBs.
The review concluded that there continues to be a Government demand for heraldic, typographic, numismatic, technical and design advice. Having considered the delivery option alternatives, the review recognises the services delivered by the committee remain necessary to the business of the Department and ensures the quality of the themes and designs of UK coinage and official medals. Any alternative delivery route would incur a greater cost in both resource and financial terms. As such, the recommendation is to retain the advisory committee in its current form. However, while considering the governance of the committee the review recommends that the committee should make minor adjustments to current control and governance practices to improve the transparency of this small but important function.
Copies of the report of the review will be placed today in the Libraries of both Houses.