HC Deb 06 November 1934 vol 293 cc830-1
48. Mr. WHITE

asked the Chancellor of the Exchequer whether, in view of the changed conditions of the last two years, he will consider the advisability of appointing a committee to consider de novo in what securities trustees should be authorised to invest and what procedure should be adopted for making additions to or deletions from the list of such securities?

53. Mr. TOUCHE

asked the Chancellor of the Exchequer whether, in view of the change in investment conditions which has taken place since the report of the Cave Trustees Securities Committee, he will reconsider the advisability of introducing legislation to amend the rules governing the status of trustee securities?


A review of the list of trustee securities does not suggest that there has been any substantial change within the last 10 years in the aggregate volume of nominal capital available for holding by trustees. In all the circumstances, my right hon. Friend does not propose at the present time to adopt either of the suggestions made to him.


May I 'ask the hon. Gentleman whether he will be prepared to give further consideration to this matter if further reasons for and the desirability of a change are brought before him?


As there is a suggestion in this question that there should be an addition to the supply of trustee securities, will the Financial Secretary say whether there is any evidence of a shortage of trustee securities in view of the fact that there are now available for the public £6,000,000,000 of British Government trustee securities as compared with £600,000,000 of similar securities before the War?


I think those figures are fairly correct. In regard to the earlier supplementary question, naturally a matter of this kind will continue to engage the attention of the Chancellor of the Exchequer, but it will always be considered in the light of the financial position at the moment.