HC Deb 18 November 1931 vol 259 cc852-3W

asked the Chancellor of the Exchequer what is the practice followed by various Government Departments with regard to borrowing for Departmental purposes from the Post Office Savings Bank Fund; and what amounts have been so borrowed by each particular Department, and for what purpose in every case, during the past five years?

Borrowing Acts. 1926. 1927. 1928. 1929. 1930.
£ £ £ £ £
Telegraph Acts 11,400,000 9,700,000 10,550,000 10,650,000 11,500,000
Housing Act, 1914 6,000
Unemployment Insurance Acts. 11,362,000 3,070,000 8,122,000 6,800,000 16,080,000
Pensions Commutation Act. 1869. 478,000 458,000 358,000 364,000 324,000
Church of Scotland Act, 1925. 408,000

With the exception of borrowings under the Pensions Commutation Act, which authorises borrowing from the Post Office Savings Banks for pension commutation purposes by the National Debt Commissioners with the consent of the Treasury, the above borrowings are made by the Treasury. In addition, temporary advances have been made from time to time to the Local Loans Fund pending the issue of Local Loans Stock.