Boer War Loans

Oral Answers to Questions — National Finance – in the House of Commons on 8th October 1942.

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Photo of Mr William Craven-Ellis Mr William Craven-Ellis , Southampton

asked the Chancellor of the Exchequer what loans issued to assist in financing the Boer war are still outstanding; the total amount paid in interest over the period of such loans to date; and how much of them has been liquidated?

Photo of Sir Kingsley Wood Sir Kingsley Wood , Woolwich West

Some of the loans raised to finance the Boer war were subsequently converted or repaid out of new borrowings and so lost their identity in the total of the National Debt. It is, therefore, not possible to give figures such as those asked for by any hon. Friend.

Photo of Mr William Craven-Ellis Mr William Craven-Ellis , Southampton

Is it not usual for a Government to carry on their finance in the same way as any business organisation? There was a great cost in financing the Boer war, as there will be in the case of this war. Now we are told it has got lost in the mass of expenditure going on from year to year. I must protest against this kind of accountancy.

Photo of Sir Kingsley Wood Sir Kingsley Wood , Woolwich West

I will note my hon. Friend's protest.

Photo of Mr Richard Stokes Mr Richard Stokes , Ipswich

If I put a Question down, will the Chancellor give me similar figures for the Battle of Waterloo?