asked the Minister for Finance if he will state the fall which has taken place in the market value of every million pounds nominal value of British Government securities held by Government Departments since the 1st January, 1950 (or nearest convenient date), to the nearest convenient date.
Ceisteanna—Questions. Oral Answers. - British Government Security Values.
The nominal amount and market value of British Government securities held by Government Departments and agencies at 31st March, 1950, was given in my reply to a question by the Deputy on 8th November, 1951. The corresponding figures for 31st March, 1952, are contained in my reply to another question by the Deputy on to-day's Order Paper. The Deputy will observe that realisations accounted for a reduction of £9.6 million in the nominal amount of the securities in question.
The depreciation in recent years in the market value of Government securities bearing a fixed rate of interest is a reflection of the worldwide rise in interest rates. The fall in the price of British Government securities has been of the same order as that of various other foreign Government securities as evidenced by the increase in the yield on such securities. Irish Government stocks have been similarly affected.