§ 38. Sir J. D. REESasked whether, in view of the fact that stockbrokers often advise their clients to invest considerable amounts in the aggregate in War Savings Certificates, he will reconsider his decision not to allow them the same commission as is granted to bankers in respect of such Certificates?
§ Mr. McKENNAI regret to be unable to modify the decision stated to the House in my answer to the hon. Member's question on the 2nd August.
§ Sir J. D. REESWill the right hon. Gentleman take into account the fact that stockbrokers have been doing very badly, and that there is really no reason why they should not have the same proportion of the commission as bankers; and will the right hon. Gentleman be good enough to state his reasons?
§ Mr. SPEAKERThat does not arise.
§ Sir J. D. REESIs it out of order for me to ask the right hon. Gentleman if he will indicate the grounds on which he differentiates between the two cases?
§ Mr. McKENNAIf the hon. Member will look at the answer given by the Financial Secretary to the hon. Member 1042 himself on the 2nd of August, he will see the reasons given in full.
§ Sir J. D. REESIs not the right hon. Gentleman mistaken in making that differentiation, and is it not a fact that the stockbrokers bring in in the aggregate a great many of these Certificates?
§ Mr. McKENNAThe reason is given. It may be a bad one, but it is given.
§ Sir J. D. REESIt is a bad one.