70. Mr. R. Adams
asked the Chancellor of the Exchequer the results of the offer to holders of 2½ percent. Conversion Loan, and 2½ percent. National War Bonds, 1945 to 1947, of conversion into 1¾ percent. Exchequer Bonds, 1950.
§ Mr. Dalton
Yes, Sir. £175 million out of £206 million of 2½percent. Conversion Loan and £283 million out of £444 millions 2½ percent. National War Bonds 1945–47 have been converted. This conversion will reduce the interest charge for the National Debt by £3½ million a year.