HC Deb 22 February 1949 vol 461 c1690
63. Mr. Bossom

asked the Chancellor of the Exchequer if he is aware of the amount of interest lost to the Exchequer due to the failure of the Treasury to cash cheques sent in as payment for the special contribution until several weeks after they had been received; and if he will take steps in future to avoid this loss.

Sir S. Cripps

It is not possible to calculate what has been the loss to the Exchequer through delay in dealing with cheques sent in payment for special contribution but it is not serious. The delay, which I very much regret, arose mainly because sufficient trainee staff were not available to deal with the very large number of payments remitted on or about 1st January. Generally, cheques are now being cleared as they are received.

Mr. Bossom

Would it not have been far better if the right hon. and learned Gentleman had never even asked for this payment instead of delaying the cashing of the cheques?

Sir S. Cripps

The delaying of the cashing of the cheques may have cost us about £500. The payments are £100 million.

Mr. E. P. Smith

Can the right hon. and learned Gentleman say whether the Government's interest on the special contribution ends as from the date of the cheque or from the date of cashing the cheque?

Sir S. Cripps

Perhaps the hon. Gentleman will put that question on the Order Paper.