§ Mr. Stratton Mills
asked the Chancellor of the Exchequer (1) what was the original cost to the Treasury of the £316 million of dollar securities recently sold;
(2) what is the current market value of the £316 million Treasury dollar securities which Her Majesty's Government sold.
§ Mr. Callaghan
As I explained in my statement on 1st March, the dollar securities in question have been converted over a period of time into fixed-interest short-term securities and transferred in this form to the published reserves. Their current value is, as I stated, £316 million. Changes in the composition of the portfolio over time make it impossible to calculate the original cost of these securities.