7. Brigadier Clarke
asked the President of the Board of Trade how much interest will now be saved annually by his agreement to pay off the Business Scheme, Part II of the War Damage Act, 1943.
§ Mr. P. Thorneycroft
The amount of outstanding claims that are to be paid on 1st October next is about £25 million; and interest would have accrued at the rate of about £625,000 a year on these claims so long as they remained unpaid.
Will my right hon. Friend not agree that the interest was rapidly catching up with the principal, that much money will be saved this country by paying the claims, and that that ought to have been done long ago?
8. Brigadier Clarke
asked the President of the Board of Trade what saving of staff he anticipates being able to make by paying off the Business Scheme, Part II of the War Damage Act, 1943.
Although the number is small, I am sure that my hon. Friends on this side of the House will agree that every small decrease in the number of civil servants is to be welcomed.