Old Sinking Fund

75.

Lieut.-Colonel POWNALL
asked the Financial Secretary to the Treasury whether the Treasury can still use the old Sinking Fund to repay deficiency advances; and, if so, whether he will consider the prohibition of such repayments without a special application to Parliament?

Mr. YOUNG
I do not think it neces-necessary to make any alteration in the Acts governing this matter. There have in fact been no deficiency advances since 1914.