HC Deb 05 August 1943 vol 391 cc2453-4
54. Flight-Lieutenant Raikes

asked the Chancellor of the Exchequer what steps are being taken to raise the sums required to compensate the owners of coal whose properties were vested in the Coal Commission on 1st July, 1942?

Sir K. Wood

In view of the progress of the valuation programme, the time has come for the Coal Commission to raise a substantial part of the money required for the compensation of the previous owners of the coal. In accordance with the provisions of the Coal Act, 1938, and of the Coal Commission Borrowing and Stock Regulations, 1942, the Coal Commission on 4th August, 1943, with the approval of the Minister of Fuel and Power and of the Treasury, issued £35,000,000 of 3 per cent. Coal Commission Guaranteed Stock, 1980–2016, to the National Debt Commissioners, at the price of £97 10s. 0d, per cent. The stock is guaranteed by the Treasury under Section 29 of the Coal Act, 1938.

Mr. Bellenger

How does that issue price compare with issue prices of other gilt-edge Government stock?

Sir K. Wood

I cannot give a comprehensive reply to that Question. If my hon. Friend likes, I will communicate with him, or perhaps he will put a Question on the Paper.