§ 34. Mr. Woodburn
asked the Chancellor of the Exchequer the rates of interest paid on Ways and Means Advances by the bank; and the total interest paid, or due, for the months of September, October, November, and December?
§ Sir J. Simon
The present rate of interest payable on Ways and Means Advances from the Banking Department of the Bank of England is ½ per cent. per annum. If exceptionally large amounts are borrowed, the payments on the excess amounts would be higher, but not exceeding 1 per cent. per annum. The amounts of interest due and paid for the months of September, October, November, and December were £466,,£774, £44, and nil, respectively.