asked the Chancellor of the Exchequer (1) when he expects to lay the relevant Statutory Instruments before the House to provide for variable-interest Government bonds;(2) when he expects to be in a position to begin sales of variable-interest Government bonds.

The Trustee Investments (Additional Powers) Order 1977, bringing Government variable interest securities within the powers of investment of trustees is expected to be laid before the House on 19th May. The Building Societies (Authorised Investments) Order 1977 which, inter alia, will provide for a similar extension in respect of investments by building societies is expected to be laid before the House on or about 20th May. An issue will be made as and when market conditions are appropriate.