§ Mr. MacGregorasked the Chancellor of the Exchequer what rate of interest he is proposing for the official rate of interest for 1977–78 as the basis of calculation for loans under section 66 of the Finance Act 1976.
§ Mr. Robert Sheldon,pursuant to his reply [Official Report, 11th November 1976; Vol. 919, c. 250], gave the following information:
It is not necessary to prescribe an official rate of interest for the year 1977–78 since the relevant provisions of Section 66 do not come into force until the year 1978–79.