§ Mr. Woodall
asked the Chancellor of the Exchequer what is his estimate of the amount of interest paid to central monetary institutions holding exchange reserves in sterling and other overseas holders of banking and money market liabilities for the latest two years for which figures are available.
§ Mr. Robert Sheldon
The amount of interest paid cannot be calculated precisely, because it is impossible to identify readily the composition of overseas holdings of British Government stocks. But estimates of the interest payments are £620 million and £660 million in 1974 and 1975, respectively.