§ MR. H. O. ARNOLD-FORSTER (Belfast, W.)I beg to ask the First Lord of the Treasury whether the Defence Committee has yet framed any scheme for the national insurance of British ships and cargoes against war risks in time of war; and, if so, whether the arrangements made will be communicated to the public, so as to avoid panic and maintain confidence in the event of an outbreak of war?
§ SIR G. BADEN-POWELLI beg to ask the First Lord of the Treasury whether the Defence Committee has power to enact any such scheme, and whether it is not necessary to obtain Parliamentary sanction for a financial scheme of such importance?
§ THE FIRST LORD OF THE TREASURYThe Defence Committee have no legislative powers, of course, and I imagine that all they could do if public funds were required for any purpose such as that suggested by my hon. Friend would be to come to Parliament for the necessary powers. We have prepared no plan for the purpose referred to in the Question on the Paper, but I think the matter is one of great interest, and does deserve the attention of the Defence Committee. ["Hear, hear!"]