§ Sir F. WISEasked the Chancellor of the Exchequer the amount represented by the discount on the £323,117,478 3½ per cent. Conversion Stock?
§ Mr. CHURCHILLThe discount on stock issued for cash was £29,756,780 and the increase of nominal debt in respect of stock issued in exchange for other securities was £229,882,955. These figures total £259,639,735. As my hon. Friend is aware, 3½ per cent. Conversion Loan is funded debt and there is no obligation to redeem it at any particular date.