§ 25. Mr. TOUCHEasked the Chancellor of the Exchequer whether, having regard to the expiration on 31st March, 1912, of the period during which, under the provisions of the Bank Act, 1892, Parliament was restrained from making any alteration in the annual remuneration for the management of the. National Debt inscribed in the books of the Banks of England or Ireland, and of Exchequer Bonds, and Exchequer and Treasury Bills, there have been any negotiations, or has any notice been given, for a revision of the existing arrangements; is it under consideration to submit proposals to alter the present scale of remuneration, namely, to the Bank of England £325 per million pounds of National Debt up to 500 millions and £100 per million above 500 millions, with a minimum annual remuneration of £160,000, and £100 for every million pounds of Exchequer Bonds and Bills, and £200 for every million pounds of Treasury Bills outstanding on the last day of the previous financial year; to the Bank of Ireland £425 per million pounds of National Debt inscribed in their books if it does not exceed thirty millions and £300 per million pounds if it exceeds thirty millions, with a minimum annual remuneration of £8,000; or is it intended to continue these rates of remuneration indefinitely; or can he say what other, if any, course the Government propose to take in the matter?
§ Mr. LLOYD GEORGEI have no immediate intention of proposing a change in the existing arrangements, though I do not contemplate that they should continue indefinitely. As regards the remuneration payable in respect of Treasury Bills, I would draw the hon. Member's attention to Section 10 (2) of the Revenue Act, 1906.