HC Deb 01 April 1947 vol 435 cc1836-7
65. Mr. Lipson

asked the Chancellor of the Exchequer if, now that the Bank of England has been nationalised, annual balance sheets will be published.

Mr. Dalton

The first annual report of the Bank of England under its new constitution will be published in a few weeks.

Mr. Stokes

But that does not necessarily mean that there will be a balance sheet. May I ask whether in addition to a report, which we all know is always bogus, there will also be a statement of figures which will constitute what is commonly known as a balance sheet?

Mr. Dalton

I think perhaps my hon. Friend and I had better wait until we have read the report and then see whether in our view it contains what he wants.

Mr. Lipson

In view of the fact that it is a specific Question on the Order Paper, will not the Chancellor of the Exchequer please answer whether it is the intention of the Bank of England to do this?

Mr. Dalton

We have already heard from my hon. Friend that there is great doubt as to when a balance sheet is a balance sheet. [HON. MEMBERS: "No."] If my hon. Friend has no doubts, I have doubts myself. Therefore I suggest that it is better to wait for the production of this rather historic document—it is the first occasion when the Bank of England has issued a report with State authority behind it—and see what we think.

Mr. Stokes

Since I shall not get a chance before Easter, I beg to give notice that I propose to raise this matter on the Adjournment at the earliest opportunity after Easter.