HC Deb 25 April 1904 vol 133 cc1058-9

I beg to ask Mr. Chancellor of the Exchequer whether he has any objection to state the conditions under which the Bank of Ireland and the Provincial Bank of Ireland deal with Irish Government moneys passing through their hands on the road to the Exchequer; whether, in addition to the benefit derived by the retention of these moneys for some days in their hands, they also receive special payment for transacting this business; and whether he will appoint an independent Committee to inquire into and report on the existing position of the Bank of Ireland and the Provincial Bank of Ireland in relation to the State and to the other joint stock banks of Ireland.


The revenue receipts paid into the Bank of Ireland are credited to the Exchequer on the day of receipt; those paid through the Provincial Bank are transferred after an interval of a week. The banks receive no remuneration for their work in bringing revenue to the Exchequer other than the benefit they derive from the temporary use of the money. I do not think any object would be gained by the appointment of a Committee such as suggested by the hon. Member. The Treasury is entirely satisfied with the relations of the Bank of Ireland with the Government, which date from its establishment, and which have since been constantly referred to in Acts of Parliament. Those relations were carefully considered in connection with the Bank Act of 1892, and the provisions of that Act remain in force for twenty years, i.e., until 1912.