HC Deb 11 March 1943 vol 387 cc864-5
60. Mr. Stokes

asked the Chancellor of the Exchequer whether, in the forthcoming "Wings for Victory" weeks, he will give instructions that investments made by banks and insurance companies are kept separate from those made by the small investor, so that a true picture may be obtained of the source from which the subscriptions are derived?

Sir K. Wood

No, Sir. I do not think that my hon. Friend's suggestion would serve any useful purpose.

Mr. Stokes

Will the Chancellor tell the people what is the proportion of banks' and insurance companies' investments, and is he aware that it was his own Department which recently made it plain that of the £5,000,000,000 savings so far made, between 65 and 70 per cent. came from the banks and insurance companies?

Sir K. Wood

The hon. Member will obtain some information, I hope, when the White Paper is published.

Mr. Stokes

If it is possible to keep the subscriptions separate on the large issues, why is it not possible to do it in this ridiculous "Wings for Victory" campaign?

Sir Granville Gibson

What good purpose can be served by keeping them separate, as long as we get the money?

Mr. A. Edwards

Would it not be a good thing if people realised that not more than 10 per cent. of this is genuine savings and that all the rest is ridiculous ballyhoo?

Sir K. Wood

No, Sir. I do not know why the hon. Member wants to decry this very successful movement.

Mr. Stokes

Because it is humbug.

Mr. De la Bère

We must separate the true from the false and the real from the unreal.