HC Deb 23 January 1918 vol 101 cc984-5
61. Mr. OUTHWAITE

asked the Chancellor of the Exchequer the total of the loan issues of the Governments of the Allies in this country to assume liability for which is a moral obligation of the. British taxpayer, as in the case of the Russian bonds on which default has been made?

Mr. BONAR LAW

The answer is in the negative.

Mr. OUTHWAITE

Are we to under-stand that this precedent will land us in an unlimited liability which the Government cannot state, and will this action of the Government require Parliamentary sanction?

Mr. BONAR LAW

No, Sir. I think it will not land us in unlimited liability. The question was one in regard to which there was a certain amount of moral responsibility, and every such question must be treated on its merits.

Mr. OUTHWAITE

Why should not this House deal with a question of moral obligations and not the Government, when they arc to be met by the taxpayer?

Mr. BONAR LAW

The House has always the power of judging. If it disapproves of a decision of the Government it can be reversed.

Mr. D. MASON

What authority had the Government for undertaking this liability?

Mr. BONAR LAW

I have made inquiries and there is no need for special authority. It is done in the ordinary way.