HC Deb 17 July 1931 vol 255 cc1034-5

Resolution reported, That, for the purposes of any Act of the present Session relating to local loans, it is expedient to authorise the remission of the unpaid balances of principal and the arrears of interest due to the Public Works Loan Commissioners in respect of loans to the Stonehaven Harbour Trustees, Brownies Taing Pier Trustees, Messrs. Clinch and Goddard, Albert Ernest Crisp, Frederick Henry Moore, and Walter Rhodes, respectively.

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


I wish to know, Mr. Speaker, whether it is possible on this Resolution to raise any question other than that of the remission of debt to the persons and local authorities mentioned in the Resolution. I desired, on this Financial Resolution, if it were possible to raise a matter about which I have put questions to the Financial Secretary, as to the conditions upon which loans are given by the Public Works Loan Commissioners to certain public authorities. I understand that the policy behind the work of the Commissioners is that it is expedient, as far as possible, to help small towns and local authorities which cannot go into the public market to get loans for themselves. When these bodies want money they go to the Commissioners who advance the money, and they are able to get that money probably on better and easier terms than they would otherwise be able to get it. Recently, however, it has been the custom—


As I read this Financial Resolution it only refers to certain loans which have been granted, and I do not think that the general policy of the Commissioners would arise upon this Resolution.

Major WOOD

I felt that there was some difficulty in that respect, and that is why I put the point to you, Sir, at the outset of my remarks. I think that the question which I wish to raise certainly arises on Clause 1 of the Bill but I recognise that the Financial Resolution may not apply to Clause I of the Bill.


The hon. and gallant Member had better wait until the Bill is being discussed to raise that question. Obviously, this Resolution only refers to particular loans made to certain people and certain bodies.

Major WOOD

Then I shall postpone it.

Question put, and agreed to.