§ Order for Second Reading read.
§ The Postmaster-General (Major Tryon)I beg to move, "That the Bill be now read a Second time."
I ought to mention to the House briefly that this is a proposal under which the Post Office will be enabled to borrow the sum of£35,000,000, of which£32,000,000 will be for telephone development. It shows the increasing business in the Post Office. This will in no way be a burden upon the State, and it is also an indication of the progress of the Post Office that we are coming back for further sums to be borrowed so soon after the Bill which was brought in only two years ago. There is one important difference in the present Bill from the Bill that was produced two years ago. It is to enable us through the Treasury to raise money to repay to the 1165 Post Office Fund any moneys that we may borrow for development.
§ Bill committed to a Committee of the Whole House for To-morrow.—[Captain Margesson.]