§ 91. Mr. R. GWYNNEasked the Under-Secretary of State for India what is the amount of the Cash Balances of the Government of India at present held in London; how these balances are employed; how much is loaned to approved borrowers and how much to banks; and the names of such banks and borrowers, and the amounts of such loans, respectively?
§ Mr. C. ROBERTSThe amount on 1st July was £3,257,321. So far as not held at the Bank of England the money was employed for loans on security to approved borrowers. There were no deposits with banks other than the Bank of England. The amount at the Bank of England was £1,107,321 and the loans to approved borrowers were £2,150,000. With regard to the last part of the question, it has been explained more than once in the House that the relation between the Secretary of State and the approved borrowers is similar to that between a bank and its customers, and is therefore regarded as confidential. The information cannot therefore be given.
§ Mr. GWYNNECan the hon. Gentleman say on what ground he now refuses a 544 Return which his predecessor willingly gave last year, and on which information an inquiry was held?
§ Mr. C. ROBERTSThe information given last year related to a past period. The hon. Member is now asking for the present state of the loans, and that is regarded as confidential.
§ Mr. GWYNNEMy question last time did ask for information up to date, and the information was given me. Could the hon. Gentleman now say on what ground he refuses when the information was given me last year?
§ Mr. C. ROBERTSI read the question before giving my answer, and I think, if the hon. Gentleman will look at it, he will see that it refers to the past year.