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Friday, 9 October 1931

Mr THEODORE (DALLEY, NEW SOUTH WALES) (Treasurer) - The answers to the honorable member's questions are as follow : -

1.   £4 18s. 4d. per cent.

2.   No.

3.   Under the agreement of 1923, which provides for the funding of the British debt to the United States of America the interest charged to Great Britain was 3 per cent. for the ten years ended15th December, 1932, and 3½ per cent. for the balance of the term. This agreement is still in force but payments thereunder have been suspended for this year under the Hoover plan.

4.   The payment for this year is suspended as a result of the Hoover plan, but if the payment had not been suspended a reduction to 3.3 per cent. would represent a decrease for this year of £1,289,400.

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