§ 33. Mr. Stokes
asked the Chancellor of the Exchequer the average, or highest, rate of interest on tap bills issued between 1st January and 30th June, 1941; and how the interest so charged accrues to the benefit of the Treasury.
§ Sir K. Wood
The highest rate was 1 per cent. The Treasury in the case of 725 most of the funds concerned either receives the surplus income or ultimate profits, or is liable to meet any deficit.
§ Mr. Stokes
Will the right hon. Gentleman say what proportion of the £4,000,000 that he mentioned the other day does not accrue to the Treasury?