§ Mr. Jessel
asked the Chancellor of the Exchequer whether he will offer subscribers to 7 per cent. British Savings Bonds who wish on redemption to purchase the new issue at 8½ per cent. an opportunity to convert straight from one into the other.
§ Mr. Nott
7 per cent. British Savings Bonds are not due for redemption earlier than five years after purchase. The earliest maturities do not take place until next year. Any conversion offer will be made nearer the time. Meanwhile holders may encash their bonds on terms laid down in the relative prospectus and reinvest in the new 8½ per cent. issue which comes on sale on 7th May.