asked the Chancellor of the Exchequer if he will fix a date for redemption at par for holders of 31 per cent. War Loan which was converted from 1929–47 5 per cent. War Loan.

I presume that the hon. Member is suggesting that we should fix a redemption date for holdings of War Loan still in the possession of those who acquired them by acceptance of the conversion offer in 1932. For the reasons which I explained to the House on 7th December last year, I am afraid that we could not contemplate any action which discriminated between holders of this stock.