HC Deb 05 May 1927 vol 205 c1780W

asked the Chancellor of the Exchequer whether, in order to avoid fluctuations in the interest payments falling due on the encashment of national savings certificates, he will consider making to the National Debt Commissioners monthly payments equivalent to the interest accrued during each month, together with additional payments, so as to accumulate a reserve against interest already accrued?


No, Sir. The matter was considered by the Colwyn Committee, who agreed that, subject to the maintenance of a substantial general sinking fund, no alteration in the present practice of budgeting only for actual cash requirements for interest payments is called for.