§ 42. Mr. Muddasked the Chancellor of the Exchequer how much is currently invested in 3.5 per cent. 1914–18 War Loan; and whether he will consider commencing repayment to original holders who are now facing hardship and to all original holders who have attained the age of 90, reducing the repayment age by five years upon the repayment of each 10 per cent. of the remaining principal held in the names of original holders.
§ Mr. HigginsI assume that the Question relates to 3½ per cent. War Loan, issued in 1932, of which £1,909 million remains outstanding. I have great sympathy for original holders of War Loan, particularly those who are now facing hardship, and I have considered 237W a number of schemes similar to the one suggested. But I have been forced to the conclusion that any scheme of partial redemption which involved different treatment of different categories of shareholders would be inequitable.