HC Deb 22 June 1943 vol 390 c1020W
Sir W. Smithers

asked the Chancellor of the Exchequer how much of the annual interest charge of £212,957,000 for 1940–41, £257,207,000 for 1941–42 and £310,801,000 for 1942–43 represented for each year payments in respect of Treasury bills, Ways and Means advances, Treasury deposits by banks, National Savings Certificates and Tax Reserve Certificates, respectively?

Sir K. Wood

The figures given in my hon. Friend's Question represent the net amount of interest and charges for management and expenses met from the Fixed Debt Charge after deducting interest payments met from receipts under the Defence Loans Act, 1937, and the Overseas Trade Guarantees Act, 1939. The gross totals of interest charges (excluding charges for management and expenses) and the amounts included therein for interest on the securities mentioned in the Question were as follow:

Figures showing the extent to which funds to meet this expenditure were provided from rates, taxes and contributions, etc., respectively, are not available for 1900 or 1910. Such figures for 1923 and 1933 will be found in the Returns of "Public Social Services" for those years (House of Commons Paper No. 12 of 1924–25 for 1923 and Cmd. 5025 for 1933). Corresponding figures for 1940 are not available because compilation of the return has been suspended during the war as a measure of economy in labour and paper.