§ Mr. Austin Mitchellasked the Chancellor of the Exchequer what is his estimate of the value of (a) gilt-edged and (b) index-linked stocks held by pension funds.
§ Mr. Ian StewartEstimates of the nominal value of pension funds' holdings of gilt-edged stocks, including but not distinguishing indexed gilts, at March of each year are published in an appendix to the regular article on the national debt in the December edition of the Bank of EnglandQuarterly Bulletin. Estimates of the market value of pension funds' holdings of conventional and indexed gilts as at end-December 1983 are published in "Financial Statistics", table 7.12.
§ Mr. Gouldasked the Chancellor of the Exchequer what is his estimate of the nominal value of gilt-edged securities held by pension funds and the amount of interest payable thereon; and what is his estimate of the saving to the Exchequer in interest payments from the conversion of such securities into index-linked stocks at current prices and yields.
§ Mr. Ian StewartI refer the hon. Member to the replies I have given today to the hon. Member for Great Grimsby (Mr. Mitchell). Because no statistics are available for the coupons payable on gilts held by pension funds, it is not possible to give a reliable estimate of the interest payable on these holdings.