§ 43. Sir J. LONSDALEasked the Secretary to the Treasury if he will state, with reference to the amount of £1,030,716, representing the value of the securities held by the National Debt Commissioners, at 31st December, 1914, on behalf of Irish members of approved societies, under the National Insurance Act, what part of this sum belongs to the permanent investment account and what part to the temporary investment account; and the amount paid by the National Debt Commissioners for the stocks, etc., represented in the said total of £1,030,716?
§ Mr. ACLANDIt would not be possible to answer the first part of the question satisfactorily, as in accordance with the provisions of the Act the greater part of the cash paid over for temporary investment is subsequently permanently invested. As regards the second part, the cost of the securities held at 31st December last, of which the hon. Baronet quotes the nominal value, was £829,664 0s. 10d.
§ Sir J. LONSDALEIs the hon. Gentleman aware that without the information asked for the approved societies will not be able to estimate their income from investments?
§ Mr. ACLANDI will represent that point to my right hon. Friend.
§ Sir J. LONSDALEDo the approved societies receive the full benefit of their purchase of stocks at a discount, or do the National Debt Commissioners benefit by it?
§ Mr. ACLANDI do not know, but I will try and get an answer to that question.