§ 51. Sir Waldron Smithersasked the Chancellor of the Exchequer the total loss on Treasury 2½ per cent stock held by Government Departments, reckoning the difference between purchase price and the latest available market price.
§ Mr. GaitskellIt would not be in the public interest to disclose the price at which stock is purchased by the National Debt Commissioners or other Government 2143 Departments. In any case, no question of profit or loss could arise unless and until the holdings were realised.
§ Sir W. SmithersSurely the taxpayer is entitled to know the reason why so much of his money has been lost? is not the Chancellor also aware that the loss, whatever it is, is due to the fact that the present Minister of Local Government and Planning committed the folly of his cheap money policy, which is the reason for the whole of the trouble?
§ Mr. GaitskellThe hon. Gentleman is wrong in assuming that there has been a loss, and the rest of the supplementary question is therefore irrelevant.
§ Mr. Godfrey NicholsonAre not most of these figures published in White Papers, and do not the purchase prices of the stocks make it evident that many millions have been lost? If the Chancellor would look at the relevant White Papers, he would see all the figures.
§ Mr. GaitskellNo, Sir; the hon. Gentleman is wrong. The purchase price at which stock is bought is never published.