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Mr. Donald Stewart
asked the Chancellor of the Exchequer what is the current value of 3½ per cent. War Loan; and what would be the current cost of redeeming these stocks.
Mr. Denzil Davies
The price of War Loan stands at around £26½ for £100 nominal of stock. It fluctuates, as do the prices of other undated stocks, with movements in the general level of interest rates. The cost of redeeming War Loan would be about £1,909 million.