§ Mr. HOGGE
(by Private Notice) asked the Chancellor of the Exchequer whether he can say if the capital sum of £6,000,000 which he proposes to give to the Statutory Committee is to be used for current expenditure or whether it is to be funded and the income there from only used; whether he proposes to introduce another Naval and Military War Pensions (Expenses) Bill, and if so, when, or whether the amount will simply be paid from the Treasury as and when it is required; and whether he can state how long he anticipates the amount will last if it is to be used for current expenditure?
§ The CHANCELLOR of the EXCHEQUER (Mr. McKenna)
The intention is that the capital sum shall be invested, and the income used so far as it will go in meeting current expenditure. But as the pensions and allowances will be terminable the capital sum will itself be gradually realised and used for the same purpose until it is exhausted. The necessary legislation will be introduced at an early date.
§ Mr. McKENNA
No, Sir. Inasmuch as the pensions are terminable it is quite clear that the mere interest upon the capital sum must not be taken as the proper charge to be made.
§ Mr. OUTHWAITE
Has the right hon. Gentleman any anticipation that the grant of this sum will prevent soldiers having to have recourse to charity in any form?
§ Mr. McKENNA
I have no doubt whatever that the amount alone paid by the State would be or should be sufficient to prevent the state of things to which my hon. Friend refers. The present proposal is to pay a rate in addition to the flat rate which has already been authorised by this House.