§ Mr. Luardasked the Chancellor of the Exchequer what was the approximate cost to the balance of payments of interest payments on the sterling balances in the financial year 1967–68; and what was the average rate of interest charged.
§ Mr. Roy JenkinsA net interest cost of rather over £150 million. This is equivalent to an average rate of about 4½ per cent. on the net balances excluding 287W non-interest bearing notes. The balances include a wide variety of accounts some of which do not bear interest.