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Interest Free Loans (Repayment)

Volume 413: debated on Thursday 23 August 1945

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asked the Chancellor of the Exchequer if individual loans to the State for the duration of the war, free of interest, are now to be repaid; and what procedure is to be adopted by the lenders.

The terms of these loans vary, but the majority of the lenders expressed their intention of leaving the money with the Treasury for the duration of the war, and the certificate in the form normally issued entitles the lender to receive repayments three months after the conclusion of a treaty of peace. In this context most lenders probably intended the expression "duration of the war" to refer to the war with Germany. Any holder of an interest-free loan certificate will be repaid if he makes application to the Treasury. I trust, however, that all who can do so will continue this praiseworthy form of public service by postponing application for the present.