HC Deb 27 January 1954 vol 522 cc249-50W
Mr. Wigg

asked the Secretary of State for the Colonies the amount under each class of fund, as detailed in paragraph 4 of Colonial Paper No. 298, for each Colony or territorial group.

Mr. Hopkinson

I regret that the conditions under which some of the information incorporated in Appendix A of Colonial No. 298 is received do not permit my right hon. Friend to publish the detailed analysis for which the hon. Member asks.

Mr. Wigg

asked the Secretary of State for the Colonies to state the date of maturity of sterling assets shown in Appendix A of Colonial Paper No. 298.

Mr. Hopkinson

Of funds held by the Crown Agents for the Colonies on behalf of Colonial Governments at the end of 1952, the maturity distribution was as follows:

£ million
Liquid 57
Stocks maturing in:
Up to 5 years 207
6–12 years 145
13–20 years 207
Over 20 years 74
Total 688*
[actually 690]
(*) Error due to rounding off.

Of the investments of the East and West African Currency Boards (which are not held by the Crown Agents and are not included in the above table) the maturity distribution at 12th May, 1953, was as follows: —

£ million
Liquid 16
Stocks maturing in:
Up to 5 years 59
6–10 years 28
11–15 years 27
Over 16 years 23
Total 153

No complete figures for comparable dates are available for the investments of all the West African marketing boards, but of the investments held by most of the boards at various dates in 1951 and 1952, about 16 per cent. was in stocks maturing in up to five years, 36 per cent. in stocks maturing in 6–12 years, 28 per cent. in stocks maturing in 13–20 years, and 20 per cent. in stocks maturing in over 20 years.

No information of this kind is available concerning privately held colonial assets in London.