§ Mr. NEEDHAMasked the Chancellor of the Exchequer what were the actual amounts borrowed by the Treasury and the cost to the Government in interest during the two periods, nine months ending September, 1917 (third War Loan) and nine months ending June, 1918 (continuous day-by-day borrowing)?
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§ Mr. BONAR LAWExcluding issues of a currency of under five years and loans raised abroad, the total amounts raised in these two periods were £1,081,735,060 and £920,986,776, respectively. The annual charge in respect of these sums, allowing for premium on redemption, is at the rate of £5 5s. 5d. and £5 2s. 5d. per cent. respectively, or, if allowance is made for loss of Income Tax at 6s. in the £ in respect of the tax free issues, £5 6s. 2d. and £5 7s. 11d., respectively.