HC Deb 03 November 1932 vol 269 c1970
40. Sir BROGRAVE BEAUCHAMP

asked the Chancellor of the Exchequer if he will state the estimated savings to the Exchequer due to the present Government's conversion operations to date?

Mr. CHAMBERLAIN

The saving in a full year is estimated at a little over £38,000,000 per annum. It must be borne in mind, however, that the State will no longer continue to receive Income Tax and Surtax upon this sum.

Mr. DENMAN

Has the right hon. Gentleman any news to give us as to the latest Conversion Loan?

Mr. CHAMBERLAIN

The lists were closed at an early hour this morning.