§ Mr. Hindasked the Chancellor of the Exchequer whether the Government have any plans to repay War Loan.
§ Mr. Ian StewartThere are no plans to redeem 3½ per cent. War Loan.
§ Mr. Hindasked the Chancellor of the Exchequer whether the Government intend to raise the interest rate on 3½ per cent. War Loan.
§ Mr. Ian StewartThe prospectus of this stock contains no provision for an increase in the interest rate payable.
§ Mr. Hindasked the Chancellor of the Exchequer if he will estimate the cost to the Treasury of repaying War Loan.
§ Mr. Ian StewartThe outstanding 3½ per cent. War Loan amounts to £1,909 million. The cost of its redemption at par would be the additional cost to the Government of replacing this stock with other Government debt paying higher interest rates. The precise cost would therefore depend on what funding instruments were chosen by way of replacement.