BRITAIN’S CHANCELLOR PHILIP Hammond has announced the Royal Mint will release a commemorative coin to mark Brexit.
The 50 pence piece will be produced to coincide with the UK’s departure from the European Union, due to take place on 29 March 2019. However the EU and UK have yet to formally agree or sign off on Brexit plans, with negotiations continuing.
The coin is set to bear the words “Peace, prosperity and friendship with all nations”. Its release will mark the end of the UK’s 45 years of membership of the EU.
Can’t see the coin? Click here.
The announcement was made during yesterday’s Budget speech:
The Royal Mint has a long-established tradition of producing coins in order to commemorate historic moments, including the 2012 Olympics, the UK’s accession to the European Economic Community, and the centenary of the First World War. In line with this tradition, the Royal Mint will produce a coin to commemorate the UK leaving the European Union. This coin will be available in Spring 2019.
Opponents of Brexit were unimpressed with the gesture, and quickly filled social media with jokes, many playing on the negative impact leaving the EU could have on Britain’s economy.
Social media users have been quick to come up with their own designs for the commemorative coin. With much of the commentary directed at Chancellor Philip Hammond.
As Britain gets closer to the exit date the value of sterling has been continuing to decline, with one pound now buying €1.12 after dipping below that late last week.
Commentators have linked the exchange rate and the new coin in some of their reaction.
Opposition Labour party MP Wes Streeting tweeted: “Government unveils new coin worth 50 pence after Brexit,” above a picture of a pound coin.
The British Government had claimed the departure from the EU would result in the saving of millions of pounds each week, a point some social media users picked up on.
The European Commission said it has no plans to release a special euro-coin to mark Britain’s departure.
Anyone wishing to order the special 50p can register their interest with the UK’s Royal Mint here.
With reporting by AP.
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