§ 57. Mr. N. MACLEANasked the Chancellor of the Exchequer whether his attention has been drawn to the decree, signed by the French Minister of Finance, in which it is announced that on and after 10th March the rate of interest on all categories of Bons de la Dèfense Nationale and Bons de Trévor will be reduced by ½ per cent.; and whether he is now pre- 1961 pared to give consideration to a similar or larger reduction in British Treasury bonds?
§ Sir R. HORNEThe securities to which the hon. Member refers are comparable to British Treasury Bills, the discount on which already varies with market conditions. The decree, of course, only refers to the rate of interest for bonds issued in future, and not to existing securities not yet matured for payment.