§ 62. Colonel WEDGWOODasked the Chancellor of the Exchequer what was the figure of the profits of the Issue Department of the Bank of England which were transferred to the Treasury during the last financial year; and what they are estimated to amount to during the current year?
Mr. CHAMBERLAINThese figures are shown in the Annual Finance Accounts, the amount for 1930 being £6,211,000. I am unable to give estimated figures in advance.
§ Colonel WEDGWOODThe figure for this year will be materially affected, I presume, by the loss on the repayment of the £80,000,000 loan?
Mr. CHAMBERLAINPerhaps the right hon. and gallant Member will await the publication of the figures.
§ Colonel WEDGWOODThe right hon. Gentleman informed me last week that the Issue Department would show whether there was a profit or loss on that transaction. In that case, cannot we have some estimate of what it will be?