§ 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 370 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.