HC Deb 01 August 1944 vol 402 cc1190-1W
Sir W. Smithers

asked the Chancellor of the Exchequer whether he will state to the nearest million pounds how the net National Debt was divided as between floating debt, other internal debt and exiernal debt on 3rst March of each year beginning with 1939 and on 2nd September, 1939; and whether he will also state under each heading as for 31st March what amount was held by Government Departments, excluding Funding Loan and Victory Bonds tendered for Death Duties which, though held by the National Debt Commissioners, are excluded from the figures of the net National Debt.

Sir J. Anderson

(1) Particulars of the National Debt at 31st March of each year are given in the Annual Finance Accounts. Figures for 2nd September, 1939, and 31st March, 1944, are as follows:

2nd Sept., 1939. 31st March, 1944.
£ millions. £ millions.
Floating Debt 1,167 4,933
Other Internal Debt 6,202 13,374
External Debt 1,032 1,288
8,401 19,595

(2) The figures of debt held by Government Departments at various dates (excluding Bonds tendered for Death Duties and held by the National Debt Commissioners) are as follows:

Floating Debt. Other Internal Debt.
£ millions £ millions
31st March, 1939 36 477
31st March, 1940 127 526
31st March, 1941 320 699
31st March, 1942 363 955
31st March, 1943 550 1,266

No external Debt is held by Government Departments.

The above figures do not include the holdings of the Issue Department of the Bank of England or those of the Government Departments and public offices excluded from the answer given on 12th July to the hon. Member's earlier Question about Government Departments' holdings. Similar figures for 2nd September, 1939, are not available, and those for 1944 are not yet complete.