HC Deb 01 April 1935 vol 300 c128

8.40 p.m.


The Clause reads: Subject to such conditions, if any, as may be prescribed by the Federal Government, the Authority may from time to time invest any moneys in the railway fund or any provident fund which are not, for the time being required to meet expenses properly defrayable out of that fund, and may, subjects as aforesaid, from time to time transfer and realise investments made by them. I only wanted to ask here if there is no possiblity of moneys which are standing to the credit of the railways being used in order to defray national deficits in any other direction? The reason I ask this is because hon. Gentlemen will remember that in the case of Ceylon, when there was a serious Budget deficit, the Governor sanctioned the withdrawal of funds which were really reserves and for railway renewals, in order to use such funds to meet a national deficit in other directions, and I want to hear whether that is quite impossible under this proposal?


The hon. and gallant Member may be reassured that the answer in Clause 182 is, "No," and that the money of the railway authority will be for the purposes of the railway authority.

Clauses 183 to 186 ordered to stand part of the Bill.