MR. WHITEasked Mr. Chancellor of the Exchequer, If he would state to the House what proportion of the "future annual charge" for Terminable Annuities (as stated in the last "Finance Accounts"), viz. £4,017,955 13s. 11d., is for Interest and what proportion is for redemption of Capital, and also the total amount of Debt that will be thus cancelled, and when?
§ THE CHANCELLOR OF THE EXCHEQUERSir, the total amount of Terminable Annuities existing on the 31st of March, 1871, was £4,559,380. Of this, £1,739,096 may be taken as interest and £2,820,284 as principal applied to the redemption of the capital. The amount of debt in a Perpetual Three Per Cent Stock which these annuities may be said to represent is £57,969,885. Nearly one million of these annuities consist of life and tontine annuities, and the average duration of these may be taken at about ten years. The bulk of the remainder (about £3,900,000) expire in 1885. Of this amount £3,396,232 per annum is payable to the National Debt Commissioners, on account of Savings Banks and Post Office Savings Banks.