HC Deb 08 July 1920 vol 131 cc1819-22


Resolution reported,

"That the Treasury may borrow by means of national savings certificates issued on such terms as they think fit such sums as they think proper to raise for the purpose as to one-half thereof of being invested in local loans stock or bonds and as to the other half thereof of being applied, together with any sums received by way of interest on any investments made as aforesaid, in reduction of debt, and may issue out of the Consolidated Fund or the growing produce thereof any sums which may be required to be invested or applied as aforesaid, and that there shall be charged on the Consolidated Fund or the growing produce thereof—

(a) the principal and interest of any national savings certificates issued for the purpose aforesaid; and (b) any expenses incurred, in connection with the issue of any such national savings certificates.

Motion made, and Question proposed, "That this House doth agree with the Committee in the said Resolution."

Captain W. BENN

I desire to draw the attention of the public again to the growing practice of the Government in taking Financial Resolutions always after 11 o'clock. The Report stage of every Financial Resolution has been taken after 11 o'clock. This means that we are losing control over our expenditure, and I renew the protest which I have constantly made on the subject.

Ordered, "That it be an Instruction to the Committee on the Finance Bill that they have power to make provision pursuant to said Resolution."—[Mr. Chamberlain.]

The remaining Orders were read and postponed.

ADJOURNMENT: Resolved, "That this House do now adjourn."—[Lieut.-Colonel Sir R. Sanders.]

Adjourned at Thirteen minutes after Eleven o'clock.