HC Deb 21 January 1931 vol 247 cc180-1
40. Mr. WHITE

asked the Financial Secretary to the Treasury how the commodity value of the National Debt in 1920, as measured by the Board of Trade index of wholesale prices, compared with its commodity value in 1924, in 1928, and at the present time?


The hon. Member will find the National Debt figures in House of Commons Paper 1 of 1930, while the Board of Trade index, which is based on the wholesale prices of food and raw materials, is set out on page 274 of Command Paper 3737. He will, of course, realise that the substitution of other indices, measuring the purchasing power of money from other points of view, would yield widely different results.


Does not the date of 1920, on which the hon. Gentleman has given his answer, give a false picture of comparisons, in view of the fact that most of the National Debt was originally borrowed before December, 1917?


I am not concerned with that point. I am asked a question as to certain dates, and I have given the answer. Different dates would give entirely different results.