§ 83. Sir William Jenkins
asked the President of the Board of Trade whether, in view of the refusal of the insurance companies to accept war risks, the Government will consider the desirability of establishing, either generally or in respect of buildings belonging to them and to local authorities, a scheme of insurance against such risks as may arise, especially from air-raids?
§ The Parliamentary Secretary to the Board of Trade (Captain Euan Wallace)
I cannot at present add to the answers given on 2nd and 9th November to the hon. Member for Dudley (Mr. Joel) and on 1st February to the hon. Members for South West St. Pancras (Sir G. Mitcheson) and for Ilford (Mr. Hutchinson).
§ Sir Arthur Salter
Will the right hon. and gallant Gentleman bear in mind that it has always been regarded as a first principle of public finance not to insure where public money is involved, but that the State or the public should bear the risk directly?
§ Captain Wallace
I am sure that my right hon. Friend will bear in mind all reputable canons of Government finance.