Gilt-Edged Stock

HC Deb 27 January 1977 vol 924 cc1689-90

12. Mr. Viggers

asked the Chancellor of the Exchequer whether he is satisfied with the Government's ability to sell gilt-edged stock.

Mr. Robert Sheldon

Yes, Sir.

Mr. Viggers

The Chancellor of the Exchequer has clearly indicated that interest rates will fall, yet the Government are selling mountains of gilt-edged stock at crippling interest rates. Will the right hon. Gentleman comment on this situation which sounds like a cross between "Catch-22" and incompetence?

Mr. Sheldon

I am not sure about that. All I am aware of is that it was not so long ago that many Conservative Members were talking about the difficulty of financing the deficit in this country. I do not think that many people are saying that today.