§ 69. Sir Richard Aclandasked the Chancellor of the Exchequer whether he will terminate the arrangement whereby large Government stocks are now insured by private insurance companies, in view of the fact that America's entry into the war has invalidated the agreement which was held to justify the departure from pre-war practice?
§ Colonel LlewellinI have been asked to reply. In my view the reasons for this arrangement are not affected by America's 1623 entry into the war, and I am unable to accept my hon. Friend's suggestion that it should be terminated.
§ Sir R. AclandCan my right hon. and gallant Friend tell us any way in which the public gains by this expenditure of money, time and effort?
§ Colonel LlewellinIt gains because it keeps in being these large insurance companies which mean so much to us in invisible exports.
§ Sir R. AclandI beg to give notice that I shall raise this matter on the Adjournment.