HC Deb 20 February 1941 vol 369 cc311-2W
Mr. Loftus

asked the Chancellor of the Exchequer whether Treasury deposit receipts borrowed by the Treasury from the joint stock banks at 1⅜per cent. are convertible at any time into subscriptions to long- or medium-term Government loans bearing a considerably higher rate of interest?

Sir K. Wood

I would refer my hon. Friend to the reply which I gave on 3rd December, 1940, to similar Questions on this subject to my hon. Friend the Member for Evesham (Mr. De la Bère). I should add that the rate of interest paid on Treasury deposit receipts is not 1 ⅜ per cent. but 1⅛ per cent.