§ 48. Mr. H. WILLIAMSasked the Chancellor of the Exchequer why the interest on the National Debt paid during the present financial year up to 12th March had already exceeded the estimate for the whole year to 31st March by the sum of £10,834,787?
§ Mr. CHURCHILLThe principal reason is that, as my hon. Friend may remember, during last year there was for some time a cessation of work upon the coalfields.
§ Mr. WILLIAMSWill the Chancellor tell me specifically whether the cause is an increase in the rate of interest on the Floating Debt, or are there other causes as well?
§ Mr. CHURCHILLI shall have to deal with this matter on the 11th of next month, and I do not think I should anticipate the considered statement which it will then be my duty to make.