Who decides in the UK how many £5 notes or £10 etc notes should be printed in one day??

Question

Who decides in any country how many notes are produced??? Someone does.

Answer 1

The Royal Mint + The goverment decide because only a certain amount of money can made around the globe.

Answer 2

Good question, for which I reckon you have two answers

1) The Bank of England printing works (not the Royal mint) in Debden (East London/Essex border) also handles the disposal (they burn them I believe) of old notes so I'd guess that as a rule they'll print one new one for every old one they destroy. That way there's always a supply of new notes but no change in the overall money supply. This has no economic consequences per se and is probably therefore just done as a matter of routine.

2) However, changing the amount of money in circulation by any material amount does have an effect on the economy, you print more notes.... the money becomes worth less and you get higher inflation.  There are reasons why a government may choose to do this but it's not generally regarded as a great thing to do. As it's such an important matter, I would expect any decision on changing the money supply would ultimately be taken by the Chancellor of the Exchequer.

Answer 3

You tell me!