§ 53. Major Sir Jocelyn Lucasasked the Chancellor of the Exchequer whether he is aware that insurance companies are offering to insure citizens against death from air-raids at an annual rate of 1 per cent.; and whether he will consider a form of State insurance or insurance guaranteed 1201 by the State at a rate of approximately £1 per £1,000 which would meet a public need and at the same time yield large profits to the companies concerned?
§ Sir K. WoodI am aware that insurance companies are offering to insure citizens against death from air raids at varying premiums. I am afraid that there are so many difficulties in my hon. and gallant Friend's proposition that I could not promise to adopt it.
§ Sir J. LucasIn view of the great importance of the subject, will the right hon. Gentleman use his best endeavours to see that the public are given fair rates, and if insurance companies are not prepared to take the risks, cannot the totalisator principle?
§ Sir K. WoodI will consider that.
§ Sir K. WoodThere is no question of the vested interests of insurance companies. I am asked here whether I would consider a State guarantee, and I say there are many difficulties in that connection.
§ Sir K. WoodThat is a rather different question.
§ Mr. PrittThe Question put to the right hon. Gentleman includes the question as to whether he will consider a scheme of State insurance and not merely a guarantee. He should read the Question.
§ Sir K. WoodMy answer to that was hat I cannot promise to adjust it.