HC Deb 24 November 1914 vol 68 cc1029-30

(1) Any amount raised by the Treasury under the War Loan Act, 1914, which is in their opinion required for the purpose of defraying the expenses of the present War, shall be deemed to be duly raised in accordance with the powers given by that Act, notwithstanding that the amount raised may exceed the supply for the time being granted to His Majesty for the service of the year ending the thirty-first day of March, nineteen hundred and fifteen.

(2) None of the provisions of the House of Commons (Disqualification) Act, 1782, or the House of Commons (Disqualifications) Act, 1801, shall be construed so as to extend to any subscription or contribution to any loan raised under the War Loan Act, 1914.

(3) The definition of Government stock in Sub-section (2) of Section five of the Savings Bank Act, 1893, shall be read as if stock issued under the War Loan Act, 1914, were included in the First Schedule to the said Savings Bank Act, 1893.

Amendment made: At the end of Sub-section (1), add the words, Provided that such excess does not exceed one hundred million pounds."—[Mr. Lloyd. George.]

Motion made and Question proposed, "That the Clause, as amended, stand part of the Bill."


I handed in a question at the Table to-day to ask the Chancellor of the Exchequer if he could now tell us to what sum of money this House was committed to the Bank of England in respect to bills of exchange which will come out of this Budget. Can that matter be referred to now?


This is not the opportunity. We are engaged now in raising the money and not in spending it.

Question put, and agreed to.

Clauses 14, 15, and 16 added to the Bill.