§ Considered in Committee.
§ [Sir E. CORNWALL, Deputy-Chairman, in the Chair.]
§ The FINANCIAL SECRETARY to the TREASURY (Mr. Baldwin)I beg to move,
That it is expedient to authorise the issue out of the Consolidated Fund of such further sums, not exceeding in the whole two million and fifty thousand pounds, as are required for the acquisition of share or loan capital of the Anglo-Persian Oil Company; to authorise the Treasury to borrow money by the creation of securities for the issue of such sums or the repayment thereof, the principal of and interest on any such securities to be charged on the Consolidated Fund; and to authorise the payment into the Exchequer and the application of dividends or interest on the capital acquired.I should like to say that this is the first stage of the Financial Resolution upon the passage of the Report, of which the Bill will be presented to the House and introduced. I venture to suggest to the Committee that, at this hour, it might be for the greater convenience of the Committee if they would give me the Committee stage now, and I will undertake to give a full explanation, which will have to be gone into at some length, of the Financial Resolution, on the Report stage, which shall 1588 be taken this day at a more convenient hour. I hope that will meet the wishes of the Committee. Most of us would like a little rest. [Some HON. MEMBERS: "No!"] Well, you have not to get to your office at ten.Question put, and agreed to.
Resolution to be reported to-morrow (Thursday).