FINANCE ACCOUNTS OF THE UNITED KINGDOM FOR THE
FINANCIAL YEAR 1926-27.

[H.C. 71/1927.]

CORRIGENDUM,

Page 80. Unfunded Debt-continued.
NATIONAL SAVINGS CERTIFICATES:
Outstanding on 31st March, 1927
instead of £371,328,283.

Figure should read £371,823,328

SINKING FUNDS, &c.

STATEMENTS showing the Application, in the Year ended 31st March, 1927, of the sums issued to the Commissioners for the REDUCTION of the NATIONAL DEBT on account of the following SINKING FUNDS, &c.

I. VICTORY BONDS SINKING FUND.

STATEMENT showing the application in 1926-27 of the amount issued from the Consolidated Fund under Section 2 of the War Loan Act, 1912 (9 & 10 Geo. V. c. 37).

N.B.-The sums issued half-yearly from the Consolidated Fund to this Account are applicable to the paying-off at 1st September of each year of 4 per cent. Victory Bonds drawn for repayment at that date.

II. FUNDING LOAN SINKING FUND.

STATEMENT showing the application in 1926-27 of the amount issued from the Consolidated Fund under Section 2 of the War Loan Act 1919 (9 & 10 Geo. V. c. 37).

STATEMENT showing the application in 1926-27 of the amount issued from the Consolidated Fund under Section 45 of the Finance Act, 1921 (11 & 12 Geo. V. c. 32).

IV.-OTHER SINKING FUNDS.

ISSUES FROM THE CONSOLIDATED FUND:

NEW SINKING FUND (1923) (balance)—*

Balance in hands of National Debt Commissioners at 31st March, 1926
Amount issued under the Finance Act, 1923 (13 & 14 Geo. V., c. 14, s. 32, 16 & 17 Geo. V.,

c. 22, s. 41), for the year to 31st March, 1927 (as on page 41)
SINKING FUND ANNUITY, per 47 & 48 Vict. c. 23. s. 3, National Debt (Conversion of Stock) Act,
1884," created to extinguish the increase in the nominal capital amount of the National Debt,
due to conversion of 3 per Cent Stock into 23 per Cent. and 24 per Cent. Stock, for the Year
to 31st March, 1927

£ 8. d. 1,498,045 13 4

22,317,755 4 3

15,547 5

STATEMENT showing the application in 1926-27 of the amount issued from the Consolidated Fund under Section 32 of the Finance Act, 1917, 7 & 8 Geo. V. c. 31.

N. B.-The amount of Stock previously brought out of the Fund (to 31st March, 1926) was 156,751,000l. 5 per cent. stock, and 11,443,000l. 4 per cent. stock. The Fund is applicable to the purchase for cancellation of 5 per cent. War Loan, 1929-47, at a price below 95, and of 4 per cent. War Loan, 1929-42, at a price below par. Further issues from the Consolidated Fund cease for the time being when the unapplied balance of the Fund in the hands of the National Debt Commissioners reaches 10,000,000l.

VI.-4 PER CENT. FUNDING LOAN AND 4 PER CENT. VICTORY BONDS TRANSFERRED FOR DEATH DUTIES.

STATEMENT of Receipts and payments in 1926-27 by the National Debt Commissioners under Section 3 of the War Loan Act, 1919 (9 & 10 Geo. V. c. 37).

See page 41 for complete statement of Issues for New Sinking Fund (1923).

CAPITAL ACCOUNT.

DETAILED STATEMENT of the CAPITAL ACCOUNT of the NATIONAL DEBT on the 31st March, 1927.

ESTIMATED CAPITAL LIABILITY IN RESPECT OF

Annuities for Life and Terms of Years:

Per 10 Geo. 4. c. 24; 3 Will. 4, c. 14; 16 & 17 Vict. c. 45; 27 & 28
Vict. c. 43; 45 & 46 Vict. c. 51; and 51 & 52 Vict. c. 15;
(£1,446,413 78. 4d.) ..

† Sinking Fund Annuity created in 1884, to extinguish the increase in
the nominal capital amount of the National Debt due to the
conversion of 3 per Cent. Stock into 23 and 24 per Cent. Stock,
expiring in 1934 (47 & 48 Vict. c. 23, s. 3) (15,5471. 58.)

12,242,000

t

DETAILS OF THE DEBTS TO THE BANKS OF ENGLAND AND IRELAND.

This Annuity does not represent an additional liability because it is applicable to the purchase and cancellation of Stock like the New Sinking Fund.

Created under the War Loan Acts, 1914 to 1919 (4 &
Geo. V. c. 60, 5 & 6 Geo. V. c. 55, 6 & 7 Geo. V. cc. 24,
36 & 67, 7 & 8 Geo. V. c. 41, 8 & 9 Geo. V. c. 25 and
9 & 10 Geo. V. c. 37), and the Finance Acts, 1916 (6 & 7
Geo. V. c. 24), 1920 (10 & 11 Geo. V. c. 18) and 1921 |
(11 & 12 Geo. V. c. 32):

3 PER CENT. War Loan:

Repayable 1925-28

4 PER CENT. War Loan:

Repayable 1925-45

5 PER CENT. WAR LOAN :

Repayable 1929-47

4 PER CENT. WAR LOAN :

Repayable 1929-42

4 PER CENT. FUNDING LOAN :

Repayable 1960-90