HC Deb 21 October 1941 vol 374 cc1623-4
49. Mr. Sloan

asked the Chancellor of the Exchequer what sums have been contributed to Government loans by the various banks and their branches and by the various insurance companies and their branches, respectively, during War Weapons Weeks; and what is the total sum loaned from the various banks and insurance companies to the Government since the outbreak of war?

Sir K. Wood

In reply to the first part of the Question, I do not think that any useful purpose would be served by the very large expenditure of time and labour which would be necessary to examine all subscriptions during each War Weapons Week. As regards the last part of the Question, I gave certain information as to the position of the banks up to December, 1940, in my reply to my hon. Friend the Member for Moseley (Sir P. Hannon) on 4th February, 1941, and if it is so desired, I should be ready to bring that information up to date. Similar information as to the position of the insurance companies is not available. I am, however, satisfied that the insurance companies as well as the banks are supporting Government war issues to the best of their ability.

Mr. Stokes

With regard to the first part of the Question, is there any difficulty in getting these insurance companies and banks to make their own returns instead of the Treasury? It is perfectly simple, but there is not the will to do it.

Sir K. Wood

I have given the total amount so far as the banks are concerned. I would be prepared to bring it up to date.

Mr. Gallacher

Would it not be of value to get these figures, to show that the banks and insurance companies are carrying on a profitable racket?

Sir K. Wood

They are giving very valuable service.