Banking Department (Profits)

HC Deb 06 March 1951 vol 485 c31W

67. Mr. Drayson

asked the Chancellor of the Exchequer what profits have been made by the Bank of England since it was nationalised.

Mr. Gaitskell

I presume that the hon. Member is referring to the profits of the Banking Department. A sum of £873,180 has been paid twice yearly to the Treasury in accordance with Section 1 (4) of the Bank of England Act, 1946. It has never been the practice to disclose any further particulars of the Banking Department other than those contained in the weekly Bank Return.