A u-turn on plans to scrap the 1p and 2p coin will be announced this week. The controversial proposals, which caused an outcry and led to Chancellor Philip Hammond being labelled a ‘penny-pincher’, will be thrown out by the Treasury a year after it branded copper coins ‘obsolete’. Mr Hammond’s reverse on last year’s Spring Statement is a victory for the Daily Mail, which has campaigned to save the penny. A Government source told the Mail on Sunday: ‘We will confirm the penny coin won’t be scrapped. Other countries including Australia, Canada and Switzerland have removed their lowest denomination coins after inflation has eaten into their value.

Source: Daily Mail April 28, 2019 22:07 UTC