Catalogue description Treasury: Finance, Home and General Division: Registered Files (2FH Series)

Arrangement is by former file reference. Previous files with the 2HF prefix were incorporated into the 2FH series. Some pre-1962 papers are included in some 2FH files because of this re-registration.

The Finance, Home and General (2FH) Division of the Treasury was established in 1962.

It was concerned with monetary policy in all its aspects. In consultation with the Bank of England, it advised on the need for particular monetary measures and their timing, and on the terms and timing of Government borrowing in relation to the requirements of the Exchequer, of the market, and of monetary policy, especially policy on interest rates.

A special aspect of the responsibility was the organisation of lending to the Exchequer by the small saver. This covered schemes such as savings certificates, premium savings bonds, deposits with the Post Office Savings Bank, and the ordinary departments of the Trustees Savings Bank banks, and involved in advising on the type of media to be made available to the public, and on the terms of their issue. The division also dealt with the administration and regulation of the media, and with relations with the National and Scottish Savings Committees who organise and encourage savings through groups established throughout the country.

The division was also responsible for the Exchange Control Act 1947. This required day-to-day contact with the Bank of England, who acted as Treasury agents in the execution of exchange control on such matters as United Kingdom investment outside the sterling area, proposals for foreign investment in the United Kingdom, and other capital movements. The division also worked in consultation with the Chief Statistician and with Finance (Statistics) Division, particularly on monetary statistics.

Following the Treasury re-organisation in 1962, 2HF Division was renamed 2FH.