HL Deb 31 March 2004 vol 659 c169WA
Baroness Byford

asked Her Majesty's Government:

Further to the Written Answer by the Lord McIntosh of Haringey on 23 February (WA 24–25). what were the expenses in the nine months to 31 December 2003 of running the National Savings Ordinary Accounts; and what was the income stream earned by the deposits in question. [HL2065]

Lord McIntosh of Haringey

The estimated expenses and income stream of National Savings and Investments Ordinary Accounts for the period 1 April 2003 to 31 December 2003 are as follows:

£ million
Expenses in running the accounts 39.4
Interest earned by account holders 3.2
Total Costs 42.6
Costs of alternative short-term financing (ie value of the deposits to the Exchequer) 36.5
Net loss to Exchequer 6.1