§ Mr. Arbuthnotasked the Chancellor of the Exchequer what will be the gross yield on the 5 per cent. Defence Bond to be issued on 1st May, 1958, if the bond 107W is held to maturity and the tax-free bonus is grossed up for tax at the standard rate of 8s. 6d.
Mr. Amory£5 13s. 6d. per cent. The yield if no allowance is made for the fact that the bonus paid on maturity is tax-free, is £5 7s. 2d. per cent.; I am sorry that in my Budget statement I gave this figure incorrectly as £5 8s 6d. per cent.