SOLD OUT FOR 30 PIECES EURO OF SILVER?

Thursday, April 14 2011

As one of the six MEPs for the West Midlands with offices very close to the Jewellery Quarter in Birmingham, as a member of the Federation of Small Businesses, as someone with a personal interest in antiques and British silver and as one who stands up for my country, I am firmly opposed to the Government's plan to scrap our hallmarking system.

The quality of our silver is the envy of Europe, which is why every 5 years the EU attempt to scrap the British hallmarking system. Much of European silver is self regulated, is of a lower quality than our own and does not have the world’s confidence, nor is it collected in the way British silver is sought after and treasured.

Since 1371 we in this country have had a quality control system for precious metals which is universally understood, fit for purpose and with an intrinsic value. The scrapping of the hallmarking system would destroy the Halls themselves and the expertise they have built up over centuries. It would have a massive impact on businesses large and small in the jewellery, metalworking, bullion and antique trades which are struggling to keep their heads above water in these lean economic times. This is an economic ‘own goal’ and benefits our overseas competitors.

It would undermine the world wide collectors' market for precious metals in which the UK is a central player. At a stoke the Government would destroy not only a key aspect of our cultural heritage, but also a valuable income source for UK plc which it can ill afford to lose.

This system is not 'outmoded' just because it has existed for centuries. The reverse is true; because this system has existed for so long, it adds value to the articles to which it is applied and it supports a vibrant and economically valuable trade. It is economic nonsense as well as cultural thuggery to scrap the British hallmarking system.

It is time we stood up to pressure from the EU to degrade our industries and culture and here is a classic case, because our Hallmarking system beats the world.