§ 44. Mr. K. Robinsonasked the Chancellor of the Exchequer the average rate of interest currently accruing to the National Land Fund; and what proportion of the fund is invested in Ways and Means advances.
§ Mr. Boyd-CarpenterThe average rate of interest is 2.28 per cent.; the proportion of the Fund invested in Ways and Means advances is 18 per cent.
§ Mr. RobinsonWill the hon. Gentleman consider investigating this fund, not a penny of the capital of which has been expended since it was formed five years ago, in long-term dated stock, so that at least we shall get the maximum interest which is payable?
§ Mr. Boyd-CarpenterWhile not accepting the premise of the hon. Gentleman's question, I can assure him that we seek to obtain the maximum interest payable compatible with the type of security required and the commitments of the fund.