HC Deb 25 February 1926 vol 192 cc714-6
98. Mr. DALTON

asked the Chancellor of the Exchequer on what date the Colwyn Committee on National Debt and Taxation was appointed; how many members it comprises; how many meetings have taken place since its appointment; at what intervals its recent meetings have been held and by how many members they have been attended; and whether, in order to assist him in formulating a policy for the reduction of the National Debt, he will invite the Committee to furnish an early Report?

Mr. CHURCHILL

The Committee was appointed on the 20th March, 1924, and now consists of 12 members. I understand that 40 meetings have been held, but I am not in a position to give particulars of the attendance of members. The Committee completed the taking of evidence in December and is now engaged in drawing up a comprehensive Report. In view of the wide scope of the inquiry this must necessarily be a task of some magnitude. I can only add that I am assured that the Committee is proceeding with all possible expedition.

Mr. DALTON

Is the right hon. Gentleman aware that this Committee is only meeting two days a month, that only four or five members have been attending recent meetings and that the proceedings are in danger of becoming as great a farce as the proceedings of the Meston Committee?

Mr. CHURCHILL

I have had some inquiry made. It is true that the Chairman of the Committee, Lord Colwyn, has been charged by the Government, with the full assent of the House with further heavy public work in connection with economy. It is possible that that may have tended to reduce the number of meetings, but the rate at which the progress of an inquiry of this kind is continued does not necessarily depend upon frequent meetings, but on the continuous study of a very complicated subject by the members of the Committee.

Mr. KIRKWOOD

Has it never dawned on the Chancellor of the Exchequer's mentality [HON. MEMBERS: "Order !"]—to apply the same rule to the National Debt. [Interruption.] You must protect me, Mr. Speaker.

Mr. SPEAKER

I will protect the hon. Member quite well if he will give me a chance.

Mr. KIRKWOOD

I am giving you every chance now.

Sir H. BRITTAIN

Is it right and correct for a Member of Parliament to refer to his colleagues as hyenas?

Mr. SPEAKER

I did not hear such a remark.

Mr. KIRKWOOD

The question I was about to put when I was interrupted was, whether it has never dawned on the Chancellor of the Exchequer to apply the same conditions to the individuals to whom we owe the National Debt that have been applied to the Italians and the French? I think that is a question which deserves his serious consideration.

Mr. SPEAKER

That is a question for Debate, and not for question now.

Mr. MAXTON

Can the Chancellor of the Exchequer tell us whether the Committee has considered the advantage that would accrue to the nation in this respect from the nationalisation of the Bank of England?

Mr. CHURCHILL

rose—

Mr. SPEAKER

That does not arise out of the question.