HC Deb 17 July 1941 vol 373 cc724-5
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 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?

Sir K. Wood

I could not say. The hon. Member had better put a Question down.