asked the Chancellor of the Exchequer whether, in view of the considerable reduction in the amount of Treasury deposit receipts outstanding in the hands of the banks, he will state his policy with regard to the continued use of this monetary instrument.

The receipts maturing in the course of next week will not be replaced and consequently no receipts will be outstanding by the end of the week; but the arrangements between the Treasury and the bankers concerned will not be terminated. Although the inflow of revenue at this time of the year and other factors will result in the suspension of the use of this form of borrowing, the scheme retains, in my opinion, its usefulness. If and when the need arises it may well be brought into operation again.