HC Deb 26 November 1979 vol 974 cc506-7W
Mr. Cant

asked the Chancellor of the Exchequer what proportion of the £1,000 million issue of 13¾ per cent. Treasury stock of 16 November was taken up by the small investor; and why the Bank of England published no prospectus in this case.

Mr. Lawson

This further tranche of an existing stock was issued in its entirety to the Bank of England and made available by the Bank through the market in response to demand from the public. This procedure was adopted in order to be in a position to meet demand for Government stock more quickly than under normal circumstances. Details of the amounts purchased by individual investors are not available.

The Bank of England issued a notice fully describing the stock which was published in the press on 17 November.