§ Mr. Beithasked the Chancellor of the Exchequer whether he will introduce proposals giving a date for the redemption of 3½ per cent. War Loan.
§ Mr. Robert SheldonThis difficult problem was reviewed in the spring of this year, but it is obviously impracticable to redeem almost £3,000 million of outstanding War Loan and other undated stocks at the present time. The case for partial redemption confined to elderly long-term holders of War Loan has been sympathetically considered, but we have concluded that this would not be equitable as between present and past holders of undated stocks.