§ 55. Mr. JOYNSON-H1CKSasked the Chancellor of the Exchequer whether an application for leave to issue capital for the formation of a re-insurance company in this country has recently been refused by the Issues Committee; whether he is aware of the amount of the business formerly done by the German and Russian re-insurance companies in this country and in America; and, seeing that both France and Italy are forming re-insurance companies in order to obtain their share of this business, whether the Government will express any opinion to the Issues Com- 35 mittee that it is essential in proper cases in the interests of this country that re-insurance companies should be granted every possible facility?
§ Mr. BONAR LAWThe answer to the first two parts of the question is in the affirmative. As regards the last part of the question, I should not feel justified in overruling the decision of the committee.