HC Deb 02 October 1941 vol 374 c723
82. Mr. Stokes

asked the Chancellor of the Exchequer whether he will issue a statement making it clear to the public that, if they are not willing to lend their money free of all interest to the Government, the next most patriotic thing to do is to put it on deposit at the bank and leave it there so that the Government may in turn, to the advantage of the community, borrow it from the banks at one per cent. instead of paying a higher rate on War Loan?

Sir K. Wood

No, Sir. I would refer my hon. Friend to the reply which I gave to my hon. Friend the Member for East Middlesbrough (Mr. A. Edwards) on 9th September.

Mr. Stokes

Will the right hon. Gentleman explain why it is more advantageous to the Government to borrow money at three per cent. than at one per cent.?

Back to