§ 55. Mr. Stokesasked the Chancellor of the Exchequer the daily cost of the Debt service as at 31st August, 1939 and 1940, or near date; approximately how much is included for interest payments in each figure; and what he anticipates corresponding figures will be at 31st August, 1941?
§ Sir K. WoodThe average daily cost of interest on the National Debt was £593,311 during the six months ended 31st August, 1939, and £625,816 during the six months ended 31st August, 1940. The average daily cost of the management of the National Debt was £2,740 for the year 1938–39 and £2,770 for the year 1939–40. I cannot now forecast what will be the costs in the corresponding periods ending next year.
§ Mr. StokesDoes the Chancellor propose to make any calculations as to what the cost of the National Debt is likely to be, and is it not sound business to do so now rather than to wait until later?
§ Sir F. SandersonIs it not a fact that the total cost of the National Debt to-day is £25,000,000 per annum less than it was in 1931, and is not that to the credit of the Government?