HC Deb 14 May 1957 vol 570 cc208-9
35. Mr. Hunter

asked the Chancellor of the Exchequer what he estimates would be the annual amount of repayments of post-war credits over the next five years if the age for repayments were reduced to 64, 63, 62, 61, and 60 years, respectively.

Mr. P. Thorneycroft

The current rate of repayment is £17 million a year. Each year by which the age for repayment is reduced would add a further £17 million in the first year, without any substantial change in subsequent years.

Mr. Hunter

As many people have been waiting for seventeen years for repayment of post-war credits, will the Chancellor consider lowering the age for repayment?

Mr. Thorneycroft

I will consider all these things, but it is a costly business.

36. Mr. Hunter

asked the Chancellor of the Exchequer the total amount of post-war credits owing at the latest convenient date.

Mr. P. Thorneycroft

About £464 million.

Mr. Hunter

Will the right hon. Gentleman take account of the fact that the purchasing power of the £ has fallen considerably in the post-war years since the system of post-war credits was introduced, and that they are now worth roughly only 55 per cent. of what they were during the war period?

Hon. Members

Answer.

Mr. Thorneycroft

That is more a matter of information than a question.

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