§ 32. Mr. MABANEasked the Chancellor of the Exchequer the average rate of interest on Treasury Bills for the current financial year up to date?

§ Mr. MABANECan my right hon. Friend say whether the additional sum of £11,000,000 which he budgeted for as the estimated cost of the National Debt is likely to prove considerably more than he will require?

Mr. CHAMBERLAINMy hon. Friend must bear in mind that the average cost 172 of Treasury Bills last year was considerably less than the figure I have quoted.

§ Mr. MABANEIs not the average rate he quoted rather less than 5s. per cent. more than the average rate last year, which was 12s. 6d. per cent.?

§ Mr. THORNECan the right hon. Gentleman state who decides the amount of interest to be paid on Treasury bills and who has the allocation of the amount of Treasury bills which are issued?