§ 57. Mr. PURCHASE
asked the Chancellor of the Exchequer what is the present condition of the Floating Debt; and by how much he hopes to reduce it during the present financial year?
The Floating Debt outstanding on Saturday, 16th October, was, as stated in to-day's Gazette, £1,320,418,000. The increase during the present quarter is in accordance with anticipation, and is largely accounted for by the payment off at maturity of the Anglo-French Loan on 15th October. In my Budget statement I estimated that there would be a surplus of £234,000,000 for reduction of debt, of which £70,000,000 would be available for Floating Debt. The outbreak of the coal strike necessarily jeopardises this and every other Budget forecast.