§ 38. Mr. McKayasked the Chancellor of the Exchequer if he is aware that the Floating Debt for 1954–55, as stated in the monthly Digest of Statistics, was £42,970,000,000; how this figure was arrived at; how far it represents the average amount of Floating Debt throughout that year; or how far it represents the total of various issues at intervals during the year, amounting to £42,970,000,000; what was the average amount issued and the rate of discount per month; and what was the total discount for the year.
§ Mr. H. MacmillanThe figure of £42,970 million referred to by the hon. Member does not represent the Floating Debt at any one time but the gross total of money raised by the creation of floating debt during that financial year. It has to be read together with the amount of £42,541 million of Floating Debt redeemed in the same year. For the total172W amount of Floating Debt outstanding at the end of each month I would refer him to Table 138 in the Monthly Digest of Statistics for February, 1956; for the monthly rate of discount on Treasury Bills to Table 318 in the Annual Abstract of Statistics for 1955, and for the total discount in 1954–55 to page 32 of the Finance Accounts of the United Kingdom for that year.
§ 39. Mr. McKayasked the Chancellor of the Exchequer the amounts raised by a Floating Debt for the years from 1950–51 to 1955–56, separately; and the total discount charged each year.
§ Mr. H. MacmillanI would refer the hon. Member to the Finance Accounts of the United Kingdom for the years 1950–51 to 1954–55. Figures for 1955–56 are not yet available.