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Tuesday, 16 August 1960

In 1959-6 an amount of £41,382,000 was appropriated from Consolidated Revenue to the Loan Consolidation and Investment Reserve, which also received interest on investments amounting to £7,961,000.

An amount of £54,895,000 was invested in a special loan on 30th June, 1960. Earlier in the year, £22,826,000 was expended on the purchase of securities held by the National Debt Commission to augment the cash available to the Commission for redemptions of maturing securities and repayments to the International Bank. Other transactions in securities involved a net outlay of £3,314,000.

An amount of £125,743,000 has been included in the Consolidated Revenue Fund Estimates for appropriation in 1960-61 to the Reserve whence it can be used, if necessary, to assist in meeting commitments in respect of the State works and housing programme, War Service Land Settlement and other requirements outside the Consolidated Revenue Fund.

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