HC Deb 18 November 1937 vol 329 c578
70. Mr. Day

asked the Chancellor of the Exchequer whether, in view of the changed conditions in the investment market as compared with those that were prevalent when the existing list of trustee securities was prescribed, he will consider the question of setting up a. committee for the purpose of considering the desirability of extending the present list of trustee investments?

Sir J. Simon

I see no sufficient reason for considering such an extension at the present time.

Mr. Day

Does the right hon. Gentleman realise that the cost of living is greatly different from what it was when the existing list of trustee securities was drawn up?

Sir J. Simon

I do not think that is the point. The hon. Member refers to a "list of trustee securities. "There is no such list. The law lays down conditions that must be satisfied before a security can be considered a trustee security, but various kinds of stocks and shares and other securities can fall within the definition from time to time.

Mr. T. Johnston

Is the right hon. Gentleman not aware that a public utility concern like the Electricity Board have to pay more than they otherwise would, because they are not scheduled as a trustee security?