Part of the debate – in the House of Commons at on 6 December 1920.
Mr Noel Billing
, Hertford
The question was
seeing that this money bears interest at the rate of 6 per cent. and that, owing to the backwardness of municipal building schemes, they are unable to make present use of this money, and therefore are reinvesting it in Treasury Bonds bearing interest at the rate of 6½ per cent.
Since that question has been put down, the Treasury have put up the interest at the rate of 6½ per cent., and, therefore, everything is all right.