Skip to main content

Consolidated Fund Services

Volume 436: debated on Tuesday 15 April 1947

The text on this page has been created from Hansard archive content, it may contain typographical errors.

I turn to the Consolidated Fund Services for this year. These I put at £556 million, £22 million less than last year. Last year, I provided million under this head for the National Land Fund. This year, the Debt Charge will require £525 million, an increase of £26 million over last year. But, of this £26 million, £8 million represents interest on borrowing to repay Local Loans Stock, which the Committee will remember we converted. This sum is offset on the revenue side of the account by a corresponding item in Miscellaneous Revenue paid into the Exchequer from the Local Loans Fund. The other Consolidated Fund Charges, apart from the Debt Charge, will cost us £31 million. So much for the expenditure this year.