§ Mr. RAFFANasked the Chancellor of the Exchequer whether the Government is now prepared with a Scheme for reducing or funding the floating debt; and, if so, what is the scheme in question?
Mr. CHAMBERLAINThe Budget was framed with the intention of providing a sum of £70,000,000 available for reduction of the floating debt in addition to the sum required by Statute to be devoted to the redemption of long term debt and to the sums estimated to be required to cancel the obligations tendered in payment of taxes. The proceeds of the late and present issue of Treasury Bonds, are, of course, wholly devoted to repayment of debt. I have no further proposals to make at present.
§ Mr. RAFFANasked the Chancellor of the Exchequer whether he can now give an estimate of the surplus which will be available at the end of the financial year for the reduction of the floating debt?
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