Prince’s Herald
Wednesday 19th March 2014
Prince Henry’s High School
Wednesday, 19th of March 2014
enquiries@princehenrys.worcs.sch.uk
Author Visit Page 6
Abbey Bridge Page 9
THE NEW POUND COIN: HOMAGE TO THE PAST AND A STEP TOWARDS THE FUTURE By Victoria Keeble A new pound coin, to be manufactured by the Royal Mint and said to be the “most secure coin in the world”, will begin circulation in 2017. Recently, worries have increased over the ability to counterfeit the current pound coin, which has been in circulation for thirty years. The Royal Mint – the body permitted to manufacture the coins used in the UK – believes that around 3% (over 45 million) of the pound coins currently in circulation are illegal copies and the move to make new pound coins will aim to ensure that no fakes can be made. The new coin will be roughly the same size as the current one and
will have a shape reminiscent of the old three pence piece, which had twelves sides and which was the first coin to feature a portrait of Queen Elizabeth II. While the portrait of the Queen will be on the “heads” side of the new coin – as is tradition – a public competition will be held to decide what design to put on the “tails” side. Since the aim of the new coin is to prevent counterfeiting, the Royal Mint has had to design it so that it overcomes even the most advanced counterfeiting technology. The new coin will be made from two differentcoloured metals, which will have a special composition, and will feature the Royal Mint’s
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Included by kind permission of BBC.co.uk
Integrated Secure Identification System (iSIS) – a revolutionary high-security currency system. John Sheridan, counterfeiting expert of the National Crime Agency, said “The issuing of a new coin with enhanced security features will make it more difficult for criminals to copy as well as presenting increased opportunities for law enforcement to investigate and disrupt the producers and distributors of counterfeit currency.” The impacts of introducing this new pound coin are being considered, since businesses may face costs from having to Continued on page 3.
The 2014 Budget: Osborne’s plans for a “resilient” economy By Victoria Keeble Today at 12:30GMT Conservative politician George Osborne will deliver his fifth Budget speech, in which he’ll outline plans to boost Britain’s economy and reduce the country’s deficit levels. From around 2000 onwards Britain’s national debt has risen, increasing steadily until around 2007 but then sharply increasing to record levels with the biggest increase being between 2008 and 2009. The national debt is a
term that’s not used as widely these days but which refers to the amount of money the government owes as a result of their borrowing through the issue of securities by the British Treasury and other government agencies. On the other hand the national budget deficit, officially referred to as the Public Sector Net Cash Requirement, is the rate at which the government borrows money. The figure is produced by the difference between the government’s revenue (profit) and expenditure. Currently the deficit is increasing due to a swelling gap between revenue and expenditure and this in turn increases the UK’s debt. Continued on Page 3