§ 52. Mr. Keelingasked the Chancellor of the Exchequer whether he is aware that whereas residents in the Birmingham area can make deposits of £2,000 at 2¾ per cent. in the Birmingham Municipal Bank, £2,500 at 2½ per cent. in a Trustee Savings Bank outside Birmingham, and £2,000 at 2½ per cent. in the Post Office Savings Bank, a total of £6,500, a person living outside that area is restricted to the two last-named deposits, totalling £4,500; and whether, for the sake of impartiality and in the interests of National Savings, to which the Birmingham Bank has contributed over £50,000,000, he will direct the Bank of England to recommend the Birmingham Bank to accept deposits from all residents in Great Britain.
§ Sir S. CrippsThe answer to the first part of the Question is, "Yes"; but Birmingham is not the only locality with facilities for savings additional to the Post Office and Trustee Savings Banks. The answer to the second part is, "No, Sir."
§ Mr. KeelingIs the Chancellor aware that except possibly for the savings banks to which he refers, no other bank and no building society will give as much as 2½ per cent. on deposits? What have Birmingham people and the people of these other localities which he has mentioned done to deserve so much better treatment than the remaining inhabitants of this island?
§ Sir S. CrippsThat is a matter for the municipal bank, I think.
§ Mr. WyattIs my right hon. and learned Friend aware that when other towns tried to start a municipal bank like the Birmingham bank, the Tory administration of the day refused them permission to do so?
§ Mr. ErrollWill the Minister encourage other towns to set up municipal banks?