§ Sir J. MARRIOTTasked the Financial Secretary to the Treasury the total amount of the National Debt outstanding on the 31st March in each year 1919 to 1928, excluding and including the estimated amount of accrued interest due on war saving certificates outstanding?
Mr. SAMUELThe answer is as follows:
Nominal amount of Dead Weight Debt outstanding on 31st March in each year 1919 to 1928. — Excluding estimated amount of accrued interest due on National Saving Certificates. Including estimated amount of accrued interest due on National Saving Certificates. £m. £m. 1919 … 7,434,949 7,446,449 1920 … 7,828,779 7,852,779 1921 … 7,574,358 7,609,358 1922 … 7,654,301 7,699,301 1923 … 7,742,233 7,807,233 1924 … 7,641,047 7,721,047 1925 … 7,597,848 7,687,848 1926 … 7,558,644 7,658,644 1927 … 7,554,618 7,675,618 1928 … 7,527,570 7,648,570 (Victory Bonds and other securities tendered for Death Duties and held by the National Debt Commissioners are excluded throughout from the above totals.)
§ Sir J. MARRIOTTasked the Financial Secretary to the Treasury the total amount contributed by the taxpayer to the repayment of Debt since the Armistice, discriminating between the amount paid into the new and the old 430W Sinking Fund for this purpose; and if he can state the amount from each source for each year?
Mr. SAMUELThe position from the let April, 1919, onwards has been as follows. The column headed "Provided in Budget" shows for the earlier years the sums provided out of revenue for the (former) new Sinking Fund and for various specific sinking funds, all of which were amalgamated in the new Sinking Fund (1923). From 1923 onwards the column is identical with the the new Sinking Fund (1923).
Cash supplied for Repayment of Debt. Financial Year. Provided in Budget. Derived from Surplus (Old Sinking Fund). £ £ 1919 … … 5,430,209 -326,201,000 (Deficit.) 1920 … … 21,266,860 +230,556,000 1921 … … 25,010,609 +45,693,000 1922 … … 24,710,782 +101,516,000 1923 … … 40,000,000 +48,329,000 1924 … … 45,000,000 +3,659,000 1925 … … 50,000,000 -14,038,000 (Deficit.) 1926 … … 60,000,000 -36,693,794 (Deficit.) 1927 … … 65,000,000 — +336,418,460 +52,820,206 It is not possible to give exact figures for the short broken period from the Armistice to 31st March, 1919, but the Debt increased with great rapidity, probably by about £300,000,000.