HC Deb 27 January 1944 vol 396 cc860-1
60. Sir John Mellor

asked the Chancellor of the Exchequer whether he has any announcement to make in connection with the five per cent. Conversion Loan amounting to £318,000,000, having regard to the forthcoming option for repayment.

Sir J. Anderson

Yes, Sir. His Majesty's Government propose to repay this Loan on 1st May, 1944, and the prescribed notice will appear in the "London Gazette" to-morrow. Having regard to the war loans available for public subscription, I have seen no need to make any special conversion offer in connection with this repayment; but I should like to say how important it is, in the national interest, that the maximum amount of the repayment moneys should be promptly reinvested in the war loans currently on issue.