§ Mr. FELLasked how the six or seven million pounds received from the sale of National Insurance Act stamps is treated by the Treasury; and if it has been put into Consols as a permanent investment or has been lent temporarily on approved securities?
§ Mr. MASTERMANThe money in question is being temporarily invested by the National Debt Commissioners on behalf of 53W the National Health Insurance Funds partly in Treasury Bills and Exchequer Bonds, and partly in Government Stock, in anticipation of transfer to the permanent investment account. There is no power under the National Insurance Act to lend moneys belonging to the National Health Insurance Funds against the deposit of securities, and no such loans are being made.