§ 55. Sir Knox Cunninghamasked the Chancellor of the Exchequer if he will issue a directive to the Governor of the Bank of England to avoid the use in future of the Bank's name as an agent for the issue of foreign and incorrectly described stock, as for example the recent issue of Ireland 7½ per cent. stock on 4th August, 1966.
§ Mr. DiamondNo.
§ Sir Knox Cunninghamasked the Chancellor of the Exchequer by what authority the Bank of England issued £5,000,000 of Ireland 7½ per cent. stock on 4th August, 1966; if he will seek and publish information from the Bank as to the amount of such stock subscribed by the public; and what part the Government broker played in this transaction.
§ Mr. DiamondBy the authority of the Government of the Irish Republic. The whole of the stock was taken up by the public. The Government broker played the normal part of any broker to a new issue.