War Loans and Requisitioned Stocks (Bank Commission).

Oral Answers to Questions — National Finance. – in the House of Commons on 12th February 1942.

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Photo of Mr William Shaw Mr William Shaw , Forfarshire

asked the Chancellor of the Exchequer what is the amount of commission paid to banks on the issue of war bonds since the declaration of war; and the amount of commission paid to banks on dollar and sterling stocks requisitioned during the same period?

Photo of Sir Kingsley Wood Sir Kingsley Wood , Woolwich West

Commission paid to banks since the outbreak of war on all forms of War Loan (including National Savings Certificates and 3 per cent. Defence Bonds) amounts to £1,358,000 of which commission on the three series of 2½ per cent. National War Bonds amounts to £740,000. These figures relate to subscriptions of £m.1,180 and £m.592 respectively. The total commission paid in respect of the requisitioning of dollar and sterling securities amounts to £405,000 but I am afraid that it is not possible without a disproportionate amount of labour to say how much of this was paid to banks and how much to stockbrokers.