HC Deb 20 July 1943 vol 391 cc710-2W
Sir W. Smithers

asked the Chancellor of the Exchequer whether he will record on each future monthly statement of the Treasury's loan operations the approximate group totals of the National Debt as at the date of the return under each of the following headings: floating debt, other internal debt, external debt and total net debt after deducting Sinking Fund moneys?

Sir K. Wood

I regret that I cannot adopt my hon. Friend's suggestion. The account of debt transactions published at the end of each month as a supplementary note to Exchequer Receipts and Issues is a cash statement. The total of the National Debt on 31st March published annually on the date of the Budget, is an approximate figure and has to be subsequently adjusted by reference to the capital accounts, the adjusted totals being published in the Finance Accounts of the United Kingdom and finally in the National Debt Return. The figures already published provide the material for an approximate estimate of the amount of debt outstanding at the end of each month under each of the headings suggested. A closer approximation could not be published without a monthly reconciliation of cash receipts with the records of the various capital accounts. The value of such frequent adjustments would be doubtful at any time, and I cannot con-

Ways and Means Advances (£000).
Bank of England. Government Departments Interest Bearing. Govt. Depts. free of Interest.
Last day of Quarter— Amount. Rate per cent. Amount. Rate per cent. Amount.
1939—
March 3,000 1 24,885
June 27,500 ½—1 4,250 11/16 to 1 7/16 41,460
September 8,590 11/16 to 3¼ 40,560
December 23,050 1 1/16 to 2 13/16 42,215
1940—
March 24,450 15/16 to 1 ⅛ 37,040
June 6,000 15/16 30,630
September 31,400 15/16 60,145
December 50,500 ½—1 24,600 15/16 61,415
1941—
March 71,980 15/16 100,280
June 28,250 ½—1 90,225 15/16 68,500
September 750 ½—1 142,025 15/16 104,445
December 66,000 ½—1 70,600 15/16 115,720
1942—
March 132,960 15/16 62,175
June 36,250 ½—1 72,810 15/16 87,635
September 5,500 ½—1 131,725 15/16 and 1 93,865
December 67,750 ½—1 70,775 15/16 and 1 90,810
1943—
March 6,500 ½—1 160,715 15/16 and 1 121,780
June 55,000 ½—1 157,925 15/16 and 1 86,510

Sir W. Smithers

asked the Chancellor of the Exchequer what were the average outstanding amounts of the Treasury bills, Ways and Means advances by the Bank of England, Ways and Means advances by sider attempting them under war conditions.