§ Sir W. Smithersasked the Chancellor of the Exchequer whether he will state for the three months to 30th September, 1944, the amount of Treasury deposit receipts cashed before maturity and the approximate total of each form of Government loan to which the proceeds of such encashments were applied.
§ Sir J. AndersonFollowing are the figures in continuation of the statement which I gave to my hon. Friend on 7th July, 1944:
Repayments of Treasury Deposit Receipts before maturity in the three months ended 30th September, 1944, £115,000,000.
Loans to which proceeds of encashments have been applied:
£ millions Savings Bonds … 27 National War Bonds … 19 Tax Reserve Certificates … 68 Post Office Issues … 1 115
§ Sir W. Smithersasked the Chancellor of the Exchequer what was the amount of 3 per cent. Terminable Annuities, created in exchange for loans to His Majesty's Exchequer, held on zoth November, 1943, and included in the figure of £59,723,580 reported in the Annual Return of Trustee Savings Banks and Friendly Societies, issued by the Treasury on 16th February, 1944, as representing annuities for terms of years; whether, in future returns of the Trustee Savings Banks, information relating to 3 per cent. Terminable Annuities can be quoted separately as in the Annual Return of the Post Office Savings Banks; and what are annuities for terms of years.
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§ Sir J. AndersonThe amount of capital outstanding in respect of 3 per cent. Terminable Annuities created for the purpose named and included in the figure mentioned was £59,635,459. The reply to the second part of the Question is in the affirmative. Annuities for terms of years are annuities of which the principal is repayable by instalments spread over the terms specified.
§ Sir W. Smithersasked the Chancellor of the Exchequer whether he will state, for the quarter ended 30th September, 1944, what were the separate average daily amounts of Treasury bills, Ways and Means advances by the Bank of England, ways and means advances by public Departments and Treasury deposits by banks; and what amount of the total of Ways and Means advances by public Departments outstanding on 30th September, 1944, was free of interest.
§ Sir J. AndersonI append figures of the average daily amounts outstanding for the quarter ended 30th September, 1944, in continuation of the statement which I gave to my hon. Friend on 7th July last.
£000 Treasury Bills 3,600,058 Ways and Means Advances: Bank of England 6,266 Public Departments 459,619 Treasury Deposit Receipts 1,461,750 The amount of Ways and Means advances by public Departments outstanding on 30th September, 1944, free of interest was £233,330,000.
§ Sir W. Smithersasked the Chancellor of the Exchequer whether he will state for each six months during the 18 months ended 30th September, 1944, what amount of the interest charge on the National Debt as recorded in the Treasury's weekly return of revenue and expenditure was respectively for floating debt, other internal debt and external debt; and what were the separate figures for the same half years in respect of interest on Treasury bills, Ways and Means advances, Treasury deposits by banks, National Saving certificates and Tax Reserve certificates.
§ Sir J. AndersonThe figures are as follow:
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Interest on the National Debt. — Half yearly periods to: 30th Sept. 1943. 31st March, 1944. 30th Sept., 1944. Interest on: £000 £000 £000 Treasury Bills 13,486 14,246 17,840 Ways and Means Advances 841 977 1,267 Treasury Deposit Receipts 5,486 6,635 7,804 Total Floating Debt 19,813 21,858 26,911 National Savings Certificates 3,650 4,250 4,700 Tax Reserve Certificates 717 2,572 1,085 Other Internal Debt 157,782 169,191 179,019 Internal other than Floating 162,149 176,013 184,804 External Debt 1,486 1,485 1,429 Management and Expenses 1,305 1,008 1,328 Total 184,753 200,364 214,472 Less, met from receipts under Defence Loans Act, 1937, etc. 126 20,257 133 Net Interest Charge 184,627 180,107 214,339