§ Sir R. Youngasked the Chancellor of the Exchequer what was at the latest convenient date, the total amount of interest-free loan remitted direct to the Treasury by the lenders; and whether all the loans so made are for the duration of the war including, the war with Japan.
§ Sir J. AndersonIn reply to the first part of the Question, the total received up to 2nd May, 1944, was £66,519,000. In reply to the second part, the terms of these loans vary, but the majority of the lenders have expressed their intention of leaving the money with the Treasury for the duration of the war, and the certificate in the form normally issued entitles the lender to receive repayments three months after the conclusion of a treaty of peace. In this context most lenders have probably intended the expression "duration of the war" to refer to the war with Germany. The hon. Member will appreciate that the scheme was instituted in 1940 and the bulk of the loans were received before the entry of Japan into the war.
§ Sir R. Youngasked the Postmaster-General the total amount of interest waived by depositors in the Post Office Savings Bank and by holders of securities on the Post Office Register, including National Savings Certificates, since the Interest-Free Loans Scheme was first announced.
§ Captain CrookshankThe total amount of interest surrendered to the State by depositors in the Post Office Savings Bank, by holders of stock on the Post Office Register and by Savings Certificate1732W holders up to the 30th of April, 1944, is £394,141. This amount is made up as follows:
£ Interest on Post Office Savings Bank Deposits 291,637 Interest on Stock on the Post Office Register 94,796 Interest on Savings Certificates 7,708 £394,141