§ Mr. WINGasked the Postmaster-General if his Department will consider the advisability of extending the area of investment of the savings of the people to include direct loans to municipalities, with a view to increasing the earning capacity of the people's savings and the cheapening of money required by municipalities, in place of the present system?
§ Mr. HOBHOUSEI beg to refer my hon. Friend to the answer given yesterday by my right hon. Friend the Chancellor of the Exchequer to a question by the Member for the Colne Valley Division.
§ Mr. WINGWill he be good enough to consider the question of appointing a Committee to consider the matter, since quite a number of communities feel that it is very difficult to have to pay such large sums of money for municipal purposes, and that the Post Office money should be available?
§ Mr. HOBHOUSEI think the objections, on the whole, to raising money from this particular source are of a sufficiently strong character, it is not possible to disclose them all in detail, as to render such is a course undesirable and unnecessary.