§ 60. Sir W. Smithers
asked the Chancellor of the Exchequer how much profit or loss was made by the Bank of England on the issue of currency notes for the years 1920, 1930, 1940, 1945 and 1950, respectively.
§ Mr. Gaitskell
The Bank of England has made no profit either from the issue of Treasury currency notes before 1928 or from the amalgamated note issue since that year. The profit has come to the136W Treasury. Particulars are given in the annual Finance Accounts of payments into the Exchequer until 1939; since that year the profits of the Issue Department have been paid to the Exchange Equalisation Account under the Currency and Bank Notes Act, 1939.