§ 59. Mr. KIRKWOODasked the Financial Secretary to the Treasury how many municipal and company banks there are in Scotland; the aggregate number of depositors and the amount of deposits connected with these banks; and will he introduce legislation enabling local authorities in Scotland to open municipal banks on the same terms and conditions as trustee savings banks?
§ The FINANCIAL SECRETARY to the TREASURY (Mr. Hore-Belisha)No local authority in Scotland has received statutory powers to open a municipal bank. I am aware that in certain towns in Scotland private companies have been formed by members of the local authority for the purpose of receiving deposits and lending to the local authority, but I have no detailed information regarding the operations of these banks. The Government are not contemplating legislation of the kind referred to in the last part of the question.
§ Mr. HERBERT WILLIAMSCan the Financial Secretary say whether any Scotsmen have found any difficulty in saving money?
§ Mr. KIRKWOODThey could not save money out of you anyway.