§ 56. Mr. NAYLORasked the Chancellor of the Exchequer what are the amounts of Government securities that could be redeemed each year, up to and including 1927, if the necessary money for redemption were available; and what amount of interest per annum would be saved by such repayments?
Mr. YOUNGI would refer the hon. Member to the figures given in Command Paper 249 of this year. Owing to the existence of options to the holders of existing Bonds to convert into longer dated Government issues, it is not possible to give a categorical answer to the question asked. All I can say is that if £1,000,000,000 of this debt could be redeemed out of revenue and not out of new borrowings, the saving in interest charge would be approximately £50,000,000 per annum.