HC Deb 21 September 1939 vol 351 cc1053-4
35. Sir Harold Webbe

asked the Chancellor of the Exchequer whether his attention has been drawn to advertisements in the Press by companies offering to insure real properly against damage arising from enemy action; and whether he has made or will make inquiries as to the financial resources of these companies?

Sir J. Simon

My attention has been drawn to the cases referred to in my hon. Friend's question, and I would refer him to the reply given on this subject to the hon. Member for East Ham South (Mr. Barnes) on 27th July last by my right hon. Friend the President of the Board of Trade.

Sir H. Webbe

Does not the promotion of enterprises of this kind make even more urgent the need for a national scheme of property insurance; and can my right hon. Friend say when the Government expect to receive the report of the committee they have appointed to consider this matter?

Sir J. Simon

Yes, Sir, I think it has already been stated—at any rate it is the fact—that Lord Weir's Committee, in view of the present situation, is hastening its report as much as possible, and we expect to receive it very shortly.

Mr. H. Morrison

Does not the right hon. Gentleman think that, in view of the attractive nature of these advertisements and the liability of many lower-middle class and working class people responding, it is the responsibility of the Treasury to give some advice to householders in this matter?

Sir J. Simon

I am not sure on what department that responsibility rests, but I do not mind about that. The statement which was made by my colleague the President of the Board of Trade was that he advised all who are invited to insure their property in this way to consider whether an undue proportion of contributions may not be appropriated to management expenses, and also to consider the severe limitation which events may impose on the amounts which may be available for compensation in individual cases. I think that the right hon. Gentleman will agree that is a warning which could hardly be more specific.

Mr. Macquisten

Will not the right hon. Gentleman warn these people that they may be merely sharepushers and that they may lose all their money; and does he not realise that po5r people have not the intelligence to examine these things?