Tap Treasury Bills.

Oral Answers to Questions — National Finance. – in the House of Commons on 17th July 1941.

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Photo of Mr Richard Stokes Mr Richard Stokes , Ipswich

asked the Chancellor of the Exchequer the average, or highest, rate of interest on tap bills issued between 1st January and 30th June, 1941; and how the interest so charged accrues to the benefit of the Treasury.

Photo of Sir Kingsley Wood Sir Kingsley Wood , Woolwich West

The highest rate was 1 per cent. The Treasury in the case of most of the funds concerned either receives the surplus income or ultimate profits, or is liable to meet any deficit.

Photo of Mr Richard Stokes Mr Richard Stokes , Ipswich

Will the right hon. Gentleman say what proportion of the £4,000,000 that he mentioned the other day does not accrue to the Treasury?

Photo of Sir Kingsley Wood Sir Kingsley Wood , Woolwich West

I could not say. The hon. Member had better put a Question down.