§ 55. Sir John Mellorasked the Chancellor of the Exchequer what amount of British Electricity 3½ per cent. Guaranteed Stock 1976–1979 was applied for by the National Debt Commissioners; what amount was allotted to them; on behalf of what funds did the Commissioners apply; and how was the amount allotted, apportioned among the said funds.
§ Sir S. CrippsInvestments made by the National Debt Commissioners of funds under their control are shown in the statutory accounts of the funds. It would be contrary to long-standing practice to anticipate publication of the accounts.
§ Sir J. MellorWill the Chancellor of the Exchequer say whether the National Debt Commissioners received equal treatment with other applicants, or were they given preferential allotments?
§ Sir S. CrippsNo, Sir.
§ Sir J. MellorWhat does that answer mean?
§ Sir S. CrippsThat I will not say.
§ 58. Sir Waldron Smithersasked the Chancellor of the Exchequer the amount of funds under his control that was used to apply for or to underwrite, respectively, the recent Electricity Loan 3½ per cent. Guaranteed Stock 1976–1979.
§ Sir S. CrippsNo, Sir. This would be contrary to long-standing practice.
§ Sir W. SmithersWill the right hon. and learned Gentleman say why he has abandoned the questionable policy of his predecessor of cheap money? Is it not becoming evident that he has had to bow to the law of supply and demand? Is he also aware that if any private company kept their records like he tried to do they would be at the Old Bailey?
§ Sir S. CrippsNone of those points arises out of the Question on the Order Paper.