HC Deb 13 November 1940 vol 365 c1715

Motion made, and Question proposed, "That the Clause stand part of the Bill."

Mr. Gallacher (Fife, West)

In the stage at which we have arrived I think it is undesirable that we should pass a Clause giving such powers to the Bank of England. It is time that something was done about the Bank of England. It has simply been fleecing the people of this country all along, and we have had in the past many undesirable acts on the part of the Bank which have not been to the interest and advantage of the country. Therefore, I oppose this Clause unless steps are taken to take over the Bank of England from the hands of the present controllers and to nationalise the banking system of the country.

Question put, and agreed to.

Clause ordered to stand part of the Bill.

Clauses 3 to 5 ordered to stand part of the Bill.

Schedules agreed to.

Bill reported, without Amendment; read the Third time, and passed.