§ 48. Mr. RAFFAN
asked the Chancellor of the Exchequer whether premiums have been reduced 50 per cent, on all new aircraft policies taken out under the Government scheme on and after 17th February and on all renewals falling due after that date; whether a number of renewal pre- 1848 miums have been paid on the old terms on recent dates but prior to 17th February; and, if so, whether, to obviate the sense of injustice which would otherwise be felt, some rebate will be allowed in all such cases?
My right hon. Friend has asked me to answer this quetsion. For the present a rebate of 50 per cent. is being given on all new insurances or renewals effected under the Government Aircraft Insurance Scheme on and after the 17th February. This is in effect a reduction in rate, and as such must take effect as from one particular date. From the nature of the case, it is not possible to extend this reduction to insurances or renewals effected before that date.