That, for the purposes of any Act of the present Session, to provide for raising further money for the development of the postal, telegraphic and telephonic systems and the repayment to the Post Office Fund of moneys applied thereout for such development, it is expedient—
- to authorise the payment out of the Consolidated Fund of such sums, not exceeding in the whole fifty million pounds, as may be required for the purposes of such development or of such repayment;
- to authorise the Treasury to borrow, by means of terminable annuities or by the issue of Exchequer Bonds, for the purpose of providing money for sums so authorised to be issued or of repaying to the Consolidated Fund all or any part of the sums so issued and to authorise the payment into the Exchequer of any sums so borrowed;
- to provide for the payment of such terminable annuities, or of the principal of and interest on any such Exchequer Bonds, out of moneys provided by Parliament for the service of the Post Office, or, if those moneys are insufficient, out of the Consolidated Fund."
Resolution agreed to.