§ Mr. McKayasked the Chancellor of the Exchequer if he is aware that the floating debt has increased by £725 million, from £5,103 million in 1953 to £5,828 million in 1955; and if he will state what was the rate of interest charged in 1953 and what is the rate that has to be paid at present.
§ Mr. H. MacmillanThe figures quoted by the hon. Member relate to the totals of the floating debt on 31st December, 1953 and 1955 respectively. The rate of discount at which Treasury Bills were issued through the weekly market tender on 1st January. 1954, was £2 2s. 8d. per cent. The rate for Treasury Bills accepted on 2nd March, 1956, was £5 4s. 1d. per cent.