§ Mr. Stokesasked the Chancellor of the Exchequer whether, in view of the fact that he is borrowing bank deposits at 1511W 1⅛ per cent. direct from the banks, he will offer an incentive of 1 per cent. to depositors to deposit with the Treasury direct, thereby enabling them to obtain 100 per cent. increase in the deposit rate now being received by them from the banks?
§ Sir K. WoodNo, Sir. In so far as the Government desires to borrow for short periods, I think the best course is to issue Treasury Bills or to borrow from the banks under the scheme inaugurated last month.