§ 88. Mr. LANSBURY
asked the President of the Board of Trade whether, in view of the fact that the Report of the Comptroller and Auditor-General for the year ended 31st March, 1926, shows there is a balance of £18,002,001 13s. 2d. standing to the credit of the British account, representing Great Britain's share of the profits in connection with the war risks insurance schemes undertaken by the Government subject to adjustments in respect of outstanding matters, he will consider the advisability of instituting an inquiry as to the feasibility of setting up a Government all-in insurance scheme for life, fire, accident, workmen's compensation, marine and all other classes of insurance?
§ The PARLIAMENTARY SECRETARY to the BOARD of TRADE (Sir Burton Chadwick)
The war risks insurance schemes were exceptional and cannot be compared with ordinary insurance transactions. A Departmental Committee appointed by the Home Secretary-reported in 1919 adversely to the establishment of a State system of insurance against workmen's compensation risks, and I do not propose to institute a further inquiry as to the feasibility of establishing a Government scheme for the insurance of those or other risks.
§ Mr. LANSBURY
Will not the hon. Gentleman recommend to the Chancellor 2072 of the Exchequer, in view of the fact that he cannot balance his Budget, to consider this Socialist proposal for getting money?
§ Sir B. CHADWICK
I do not think the hon. Member would relieve the Chancellor of the Exchequer as much as he thinks. This was quite an abnormal insurance business; it was conducted for war purposes through existing insurance companies; there were not the establishment charges which there would be in conducting an ordinary company, and the £18,000,000 of which the hon. Member speaks is misleading him.