§ Sir FREDERICK BANBURYasked at what dates this year's Consols were purchased for the Sinking Fund, and on what date the last purchase was made; and what was the amount purchased on each date?
§ Mr. LLOYD-GEORGEThe information asked for by the hon. Member is given in the Annual Sinking Fund Return under section 7 of the Act 38 and 39 Victoria, cap. 45. The Return for the year 1908–9 has been prepared, and will be laid before the House when it has been received from the Comptroller and Auditor-General. I am not able to give any later figures, since it is not the practice to publish details of current transactions by the National Debt Commissioners, the particulars of such transactions being treated as confidential until the end of the financial year in which they take place.
§ Sir F. BANBURYIs it correct that large purchases have been made during the last six days?
§ Mr. LLOYD-GEORGETo my knowledge there have been no exceptional purchases. We always do purchase when there is money available for the reduction of debt.
§ Mr. AUSTEN CHAMBERLAINDid the right hon. Gentleman have in mind the effect of these Government purchases when congratulating himself that the effect of his Budget was to send up the price of Consols?
§ Mr. LLOYD-GEORGEThe right hon. Gentleman is making a suggestion for which he has no warrant. If I may say to him, as one who has been in the Treasury, he is the last man in the House who ought to make such a suggestion. The Commissioners of National Debt are purchasing and have been purchasing because they have got money available for the reduction of debt, but there have been no exceptional transactions either before or after the Budget.
§ Mr. AUSTEN CHAMBERLAINMay I ask whether the right hon. Gentleman did not state to the House that he had refrained from expending on the redemption of debt the sum of £7,000,000 which was available for that purpose last year, and that he had this money to spend now; and whether it has not been so applied since his Budget statement?
§ Mr. LLOYD-GEORGEI still say I am not buying in any exceptional form. The right hon. Gentleman is making a suggestion for which he has absolutely no warrant in fact. It was being applied steadily long before the Budget, and we have not increased the amount of purchases since.
§ Mr. MYERWhat is the price that the right hon. Gentleman has paid for these Consols, and does it compare favourably with the price that was paid before the Budget statement?
§ Mr. SPEAKERThe hon. Member had better put that question on the paper.