HC Deb 23 January 1940 vol 356 cc369-70
51. Mr. Craven-Ellis

asked the Chancellor of the Exchequer why the Treasury Bill rate is 100 per cent, higher than the pre-war rate; and will the Government exercise the powers they now possess over the country's financial system and so reduce this rate?

Sir J. Simon

The average rate from 1st April, 1939, to 24th August, when the Bank rate was raised, was 17s. 5d. The present rate is 21s. 9d. for a considerably larger offering of Bills. The rate is fixed by competitive public tender.

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