§ 49. Sir W. Smithers
asked the Chancellor of the Exchequer if he proposes to convert or pay off the £302 million of 3 per cent. Conversion Loan on 1st March, 1948.
§ Sir S. Cripps
Notice was given in the Gazette on the 28th November that this loan will be redeemed at par on the 1st March, 1948.
§ Sir W. Smithers
Will the Chancellor of the Exchequer give an assurance that 192 he will not repeat the folly of his predecessor in trying to buy back Gilt Edged securities at 2½ per cent. on a long-term basis in order to try and redeem this amount more cheaply?