Does the UK have a reserve bank? Does the Treasury make the currency of the United Kingdom?

Question

Does the UK have a reserve bank? Does the Treasury make the currency of the United Kingdom? Is the treasury a privately owned bank? If not, is body that creates the currency of the United Kingdom PRIVATELY OWNED?

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Answer 1

The reserve bank is the Bank of England, which despite its name covers the whole of the U.K. They make the bank notes of £50 £20,£10,£5 which are accepted anywhere in the UK . In Scotland this is done by 3 commercial banks, Royal bank of Scotland, Bank of Scotland and Clydesdale Bank. In Northern Ireland by Bank of Ireland, Ulster Bank, First Trust Bank and the Northern Bank.

The coinage currency, pound coin, 20 pence etc. are made by the Royal Mint.

The Treasury is where are the country's taxes go after being processed by Her Majesty's Revenue and Customs.

The Bank of England decides the monetary policy and the Treasury executes the public finance policy and economic policy.  

All the above organisations are owned by the government apart from the commercial banks in Scotland and Northern Ireland.

Answer 2

I think we have a reserve bank, the Royal mint which is owned by the government produces the money.