§ 14. Mr. Marloweasked the President of the Board of Trade whether, in view of the continued postponement of payment of claims under the War Damage (Business Scheme) Act, 1941, he will now at least authorise payment of the 2½ per cent. per annum interest promised on such sums; and if he will give an estimate of the cost of paying such interest.
Mr. H. WilsonThere is no power under the War Damage Acts to pay interest except in those cases in which a claim is fully discharged on grounds either of public interest or of undue hardship. The aggregate amount of accrued interest now outstanding is approximately £10 million.
§ Mr. MarloweBut those are not the cases I was referring to. Does not the right hon. Gentleman think that it savours of sharp practice to keep money, on the plea that interest is to be paid, and then to default on the interest?
Mr. WilsonIf the hon. and learned Gentleman is referring to interest paid when the capital sum is due, it is, of course, the policy of His Majesty's Government to pay it.
§ Mr. AsshetonIs the right hon. Gentleman aware that these claimants all paid premiums and that they have not received the insurance money which was due to them? It is a very serious state of affairs.