§ Mr. RUNCIMANasked the Chancellor of the Exchequer what was the amount of the old Sinking Fund available for the reduction of debt in the years 1924–25 and 1925–26; and what was the net amount of the new Sinking Fund in each of those years?
§ Mr. CHURCHILLIn 1924–25 the old Sinking Fund amounted to £3,658,883 17s. 9d. and the new Sinking Fund to £45,000,000. In 1925–26 there was no old Sinking Fund, the deficit on the year being £14,038,119 19s. 7d. The new Sinking Fund was £50,000,000. The result in practice was therefore that from the two Sinking Funds about £36,000,000 net was available for debt redemption.