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National Debt Increase (State Assets)

Volume 526: debated on Thursday 15 April 1954

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asked the Chancellor of the Exchequer what new assets we have secured as a result of an increase in the National Debt of £531,000,000 during the year ended 31st March, 1954.

For details of the change in the estimated assets of the State over the year ended 31st March, 1954, I must ask my hon. Friend to await publication of the Finance Accounts of the United Kingdom for 1953–54.

There will be very substantial increases in assets in respect of the Local Loans Fund and the National Coal Board. Moreover, as my right hon. Friend mentioned in his Budget speech, in considering the assumption of liability by the Treasury for British Iron and Steel 3½ per cent. Guaranteed Stock one must also remember the securities of the nationalised companies which have been transferred to the Holding and Realisation Agency.