§ MR. CHANNINGI beg to ask Mr. Chancellor of the Exchequer whether he has further considered the question of extending the statutory limit of the amount which may be deposited by trades unions in Consols; and whether he will consent to place the trades unions in the same position in this respect as the friendly societies.
§ THE CHANCELLOR OF THE EXCHEQUER (Sir MICHAEL HICKS-BEACH,) Bristol, W.I understand the question of the honourable Member to refer to the deposit of trades union funds in savings banks, as there is of course no restrictions on the purchase of Consols in the open market. On the 15th of December last I received a deputation from the Parliamentary Committee of the Trades Union Congress on this subject. explained to them the reasons which made it difficult to treat trades unions on the same lines as ordinary friendly or provident societies, and indicated the manner in which, in my opinion, these difficulties might be lessened. I understood that the Parliamentary Committee would further consider the matter on the lines I suggested, with the object of submitting to me a definite proposal. This proposal I have not as yet received.