HC Deb 01 April 1935 vol 300 c127

Motion made, and Question proposed, "That the Clause stand part of the Bill."

8.39 p.m.

Sir H. CROFT

In Sub-section (1) it says: Equivalent to the amount of moneys provided at the present time. I only want to ask if it is clear from this that there will be no payment exceeding the 1 per cent. which is at present a first charge, generally on the profits of the railways, and, for the protection of shareholders, I was wondering whether the hon. Gentleman can tell me that this is quite clear and that conditions in future will be no more onerous than they are at the present time?

Mr. BUTLER

I think that as regards the second point, the answer to the hon. and gallant Member is, "Yes," and, as regards the first point, I do not see the words "at the present time" in the Clause which the hon. and gallant Member quoted.

Sir H. CROFT

The actual words are: Equivalent to the amount of the moneys provided whether before or after the passing of this Act which I presume refers to the present time?

Mr. BUTLER

Yes, but I do not think that the hon. and gallant member has any reason to be disturbed by the phraseology here.