§ Mr. HAMMERSLEYasked the Chancellor of the Exchequer at what date, did our post-War external debt reach its 406W highest figure; what is that figure; and how much, capital and interest, has been repaid since?
§ Mr. PETHICK-LAWRENCEThe external debt probably reached its highest figure on 31st December, 1919, when the amount was £1,372,504,000. On 31st March, 1920, the amount had been reduced to £1,278,713,000. Payments of capital and interest since that date are given in the annual Finance Accounts.
§ Mr. HAMMERSLEYasked the Chancellor of the Exchequer at what date did our post-War internal debt reach its highest figure; what is that figure; and how much, capital and interest, has been repaid since?
§ Mr. PETHICK-LAWRENCEThe internal debt probably reached its highest figure on 31st December, 1919, when the amount was £6,625,407,000. On 31st March, 1920, the amount had been reduced to £6,550,066,000. Payments of capital and interest since that date are given in the annual Finance Accounts.
§ Sir G. COLLINSasked the Chancellor of the Exchequer whether the figure of approximately £32,000,000 given by the Colwyn Committee as the annual amount from the new Sinking Fund pledged in advance to the amortisation of specific loans or debts in 1925–26 is still correct; and, if not, what will be the figures for 1931–32, 1932–33 and 1933–34?
§ Mr. PETHICK-LAWRENCEIf the hon. Member will refer to the White Paper H.C. 129 of 1930 he will see that there have been considerable alterations since the Colwyn Committee reported, including the establishment of the Sinking Fund for the 4 per cent Consolidated Loan. In reply to the last part of the question, there is a large variable element in the calculations, since it is impossible to forecast exactly the value of the Victory Bonds which will be surrendered in payment of Death Duties in a particular year. It is unlikely, however, that the total of the specific Sinking Funds would differ very widely from £50,000,000 in the years mentioned.