§ 39. Mr. TOOLEasked the Chancellor of the Exchequer whether he is aware that considerable sums of money are lying in British banks as unclaimed bank balances; and whether, in view of the present financial stringency, he is willing to appoint a small committee to investigate the matter with the view to all unclaimed balances being taken over by the State?
§ Mr. P. SNOWDENI am not aware of any evidence that the amount of unclaimed bank balances is considerable, and I do not think that any useful purpose would be served by the appointment of a committee to investigate the matter.
§ Mr. TOOLEWill the right hon. Gentleman give an undertaking or at least find out how much money is unclaimed in this way, and would this not give a real opportunity to the banks to practise the economies that are being practised by other people, instead of economising by giving other people's money to the State in this time of crisis?
§ Sir JOHN FERGUSONIs it not a fact that every year all the British banks go into the question of outstanding deposit moneys and endeavour to trace the descendants, which inquiries to my knowledge have gone back in the last few years to 1825?
Mr. MACLEANIs it not the case that a previous Government set up a committee to go into this question, which made a report to the Cabinet on the matter, and cannot the Chancellor of the Exchequer continue that inquiry and find out whether anything can be done in this matter?
§ Mr. SNOWDENI do not think any further inquiry would add to the information which came before that committee in 1919, and they said that from the point of view of the State these unclaimed balances were of no or of little concern.
§ Mr. TOOLEIs the right hon. Gentleman aware that when this matter was last before the House the present Prime Minister walked into the Lobby and voted in favour of this being done?
§ Mr. ERNEST BROWNIs the right hon. Gentleman not aware that this policy used to be known as "Bottomley's Bloomer"?