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Finance Act 1948
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80Provisions as to permanent annual charge for the National Debt and as to the Old Sinking Fund.
(1)The permanent annual charge for the National Debt for the financial year ending with the thirty-first day of March, nineteen hundred and forty-nine, shall be the sum of five hundred million pounds instead of the sum of three hundred and fifty-five million pounds.
(2)Any amount applied out of revenue during the said year in redeeming or paying off any description of debt shall be deemed to be expenditure within the meaning of sections four and five of the [39 & 40 Vict. c. 45.] Sinking Fund Act, 1875.
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