Millions of special 50p Brexit coins are to be minted and ready to spend in time to mark Britain's exit from the European Union, under plans being drawn up by the Chancellor.

Sajid Javid, who is also Master of the Mint, has asked officials to look at whether the seven-sided coins can be produced in huge volumes in time for exit day on October 31.

The decision will be seen as a statement of intent that the Treasury is fully behind Brexit now that its predecessor Philip Hammond, who was mistrusted by Brexiteers for his gloomy prognosis on leaving the EU, has returned to the backbenches.

Under Mr Hammond around 10,000 commemorative coins - costing £10 each - were to be produced. Collectors would have applied for them on exit day and wait for up to eight weeks for delivery.

The new coins will still be marked with the words "Friendship with all nations". However, they will be stamped with the expected new date of Brexit, October 31, 2019 rather than the previous date March 29, 2019.

However Mr Javid has said that he wants officials to examine whether the coins can be produced in volume by the Royal Mint and with some of them entering general circulation in time for Brexit day.