§ 22. Mr. Ginsburgasked the Chancellor of the Exchequer what has been the percentage decline over 1950 for net receipts by the United Kingdom of interest, profits, and dividends for the years 1957, 1958, and 1959.
§ Mr. Barber50 per cent., 74 per cent. and 48 per cent. respectively.
§ Mr. GinsburgIs not this a very serious decline indeed, especially as in 1950 this item had not recovered from the war? Does not this show that we are paying an extremely high price at present for the Government's dear money policy?
§ Mr. BarberThe hon. Gentleman refers to 1950, which is the base year which he has taken in his Question. It is only fair to point out that payments on the North American loans did not commence until 1951 and in the subsequent years in which payments were made—every year, apart from 1957—they have averaged about £40 million.