I beg to ask Mr. Chancellor of the Exchequer if he can state what proportions of the sum of £21,330,000 raised upon Treasury Bills at six, nine, and twelve months respectively have been borrowed at and above four per cent. interest.
The amounts borrowed at an average rate of 4 per cent. or upwards were £1,000,000 in six months bills, £2,000,000 in nine months bills, and £2,000,000 in twelve months bills.
Will the right hon. Gentleman allow country banks to tender in the future?
They are quite capable of tendering now, Sir.