HC Deb 14 November 1939 vol 353 cc538-9
58. Mr. Sorensen

asked the Chancellor of the Exchequer whether in view of the fact that there is no adequate scheme of property insurance, and that certain building societies now refuse advances to purchasers unless over 40 years of age and able to supply additional collateral security, he proposes to take any action?

Sir J. Simon

On the question of insurance of property against war risks, I would refer the hon. Member to the statement of Government policy which was published with the report of Lord Weir's Committee (Command Paper 6116). As regards the conditions on which advances are made by building societies, I cannot intervene in a matter which is entirely within the discretion of the societies themselves.

Mr. Sorensen

Does the right hon. Gentleman not appreciate that the circumstances mentioned in both the first and second parts of the question impose very severe hardships and apprehensions on a large number of individuals in this country?

Sir J. Simon

I do not quite see that I can add to the answer that I have given. I am sure that the hon. Gentleman will see that it is not a matter upon which I can pronounce.