HC Deb 22 March 1887 vol 312 cc1140-1

asked the Postmaster General, If he will consider the practicability, and, if practical, the advisability, of instituting in connection with the General Post Office, a system of National insurance, by the issue of policies to secure the return of the value of leasehold promises to insurers on the termination of their leases, so as to enable thrifty artizans and others to set aside a safely invested sinking fund to recoup their outlay on houses or shops (including goodwill) when the leases fall in?

THE POSTMASTER GENERAL (Mr. RAIKES) (Cambridge University)

I have considered the suggestion of my hon. and gallant Friend, but do not think that it would be advisable for the Government to apply to Parliament for legislative sanction to enable it to embark in such a business as that to which he refers. The scheme could only be attempted through the medium of the Post Office Savings Bank; and, if adopted, would involve for a specific purpose the abolition of the limits now imposed by law in regard to the amounts which can be deposited in the Post Office Savings Bank.