§ 56. Lieut.-Commander Braithwaiteasked the Chancellor of the Exchequer how many meetings of the National Investment Council were held during 1949.
§ Mr. JayNone, Sir. As my right hon. and learned Friend informed the House on 7th December, 1948, he decided that it was no longer necessary to summon this Council, since the main purpose for which it was set up was being achieved in other ways.
§ Lieut.-Commander BraithwaiteIs this not a statutory body, which was proclaimed amidst a flourish of trumpets by the present Minister of Town and Country Planning, and embodied in the Borrowing (Control and Guarantees) Act, 1946? Is it not melancholy that it should so soon have fallen into desuetude?
§ Mr. JayNo, the hon. and gallant Gentleman is wrong. It was not statutory. It was set up by administrative action.
§ Captain DuncanIs the reason why it has not met because there is nothing to invest?