§ 39. Mr. Cary
asked the Chancellor of the Exchequer whether it is possible for him to state the proportion of the new 2½ per cent. National War Bonds and 3 per cent. Savings Bonds taken up by overseas investors neither domiciled nor ordinarily resident in this country; and what special steps will be taken to attract people in overseas countries to invest money in these securities?
§ Sir K. Wood
I regret that it is not practicable to identify subscriptions according to the domicile or residence of the subscriber. As regards the second part of the Question, my right hon. Friend the Secretary of State for the Colonies has drawn the attention of all Colonies and Dependencies to various ways in which by making a local issue 797 of securities the proceeds of which would be relent to the United Kingdom Government they can assist the war effort. I am glad to say that one such issue has already been made and plans for issues in other Colonies are well advanced. In various other countries special facilities for the purchase of Savings Certificates by local residents have been made. I should add that arrangements have recently been made whereby persons resident outside the sterling area may purchase British Government and other sterling securities, and may at the time of purchase receive the licence necessary under the Defence (Finance) Regulations for their resale at any time.