§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer what is the interest currently paid on ways and means advances; and for what reason he needs to pay any interest.
§ Mr. DorrellMost ways and means borrowing takes the form of surplus Exchequer moneys, which are used to minimise Government borrowing overnight. No interest is paid on such borrowing, though interest must be paid at market-related rates to attract ways and means advances from other sources.