§ 74. Mr. Doddsasked the Chancellor of the Exchequer what was the amount of outstanding post-war credits at 31st December, 1950; and what was the total amount of post-war credits which have been repaid.
§ Mr. JayThe post-war credit originally created amounted to £800 million of which £163 million had been repaid by 31st December, 1950, and about £20 million had been set off against arrears of tax for 1945–46 and earlier years under the arrangement announced on 29th October, 1946, by my right hon. Friend the then Chancellor of the Exchequer. This left about £617 million outstanding on 31st December, 1950.