HC Deb 04 May 1948 vol 450 cc1097-8
67. Mr. Keeling

asked the Financial Secretary to the Treasury whether he has now considered the evidence sent him by the hon. Member for Twickenham that persons who lent money to the Treasury free of interest hold certificates entitling them to repayment only at the end of three months after the conclusion of a peace treaty, and are therefore not aware that they can get their money back on application; and whether he will now arrange for them to be informed of their right to immediate repayment.

Mr. Glenvil Hall

The hon. Member has given the evidence of one holder who did not know how to obtain repayment. I believe that the position is generally well known since the Chancellor made his statement in the House on 23rd August, 1945; but the hon. Member's Question will give renewed publicity to the fact that any holder of an interest-free loan certificate can obtain repayment if he applies to the Bank of England.

Mr. Keeling

Would the right hon. Gentleman consider expressing regret for having misled the House the week before last, when he stated that the lenders of this money were well aware that they could get it back on application? As his answer was not reported in the Press, will he say what objection there is to letting these public benefactors know, now that they may be asked to pay the capital levy, that they can get this other money back on application?

Mr. Glenvil Hall

That would involve a good deal of work. We think, though we are open to correction, that people do know they can get their money back in this way. If there are cases in which they do not and the hon. Gentleman will call our attention to them, we are willing to bring the matter to the notice of those concerned. Otherwise, we think it invidious to write to every single holder asking whether he wants his money back.

Mr. Keeling

Why not inform him of his rights?