§ Mr. Skeetasked the Chancellor of the Exchequer whether the proposed write-off of the £475 million out of the accounts of the National Coal Board will be accompanied by a proportionate increase in the National Debt together with the expected charge for servicing thereon in the first year.
§ Mr. HigginsNo, it will not affect the size of the National Debt. But a smaller 293W part of that debt will be serviced out of interest payments received from the National Coal Board. There will be a corresponding increase in that part of the National Debt which is serviced from the Consolidated Fund.