§ MR. CHIOZZA MONEYTo ask the Prime Minister, in view of the fact that over £150,000,000 has now been deposited by the working classes in the Post Office Savings Bank, whether he can see his way to introduce legislation to enable a proportion of the sum, say one-third, to be devoted to the erection of model free-hold dwelling houses for the working classes, thus helping the poor with their own capital.
(Answered by Sir H. Campbell-Bannerman.) I am not prepared to introduce legislation for this purpose. I do not think that working-class dwellings are the most appropriate form of security in which to invest Savings Bank deposits. But it may interest my hon. friend to know that a considerable portion of the Savings Bank Funds is already applied, through the Local Loans Fund, in providing advances to local authorities for their expenditure on housing and other purposes. On the 31st December last the assets of the Post Office Savings Bank Fund included Local Loans Stock to the amount of £19,292,969.