§ MR. SWIFT MACNEILL (Donegal, S.)
To ask Mr. Chancellor of the Exchequer whether a valuation, at market values, of the securities held against the deposits in the Post Office Savings Bank would show a deficiency of approximately £15,000,000; and, if so, has he considered the question of taking measures to charge this deficiency upon the Consolidated Fund, in accordance with the provisions of 26 and 27 Vict., c. 25.
(Answered by Mr. Lloyd-George.) I beg leave to refer to the Answers given to previous Questions of my hon. friend on this subject on 9th and 18th July, 1907, and 24th February last. To those Answers I have nothing to add, except to point out that the Act quoted in the present Question relates to Trustee Savings Banks, not to Post Office Savings Banks, and that Section 7 of the Act, authorising in certain circumstances a charge on the Consolidated Fund, was repealed by Section 15 of the Savings Banks Act, 1904.