§ Mr. Wrigglesworthasked the Chancellor of the Exchequer whether he intends to issue further forms of Government securities.
§ Mr. Denzil DaviesSales of gilt-edged stocks in recent months has shown that the Government's borrowing needs can be met by the issue of conventional forms of Government securities. However circumstances may arise in which there would be advantage in adding to the range of securities available to investors by issuing a Government security with a rate of interest that varies during the life of the security, being linked to the Treasury Bill rate. Certain preliminary steps need to be taken before such a security could be isued, and the Government have accordingly decided that it would be sensible to take those steps now. Statutory Instruments to bring such securities within the powers of investment of trustees and of building societies will be laid before the House shortly. The Bank of England will be having the242W necessary discussions on certain technical details with the Stock Exchange.