HC Deb 08 February 1951 vol 483 c1937
62. Sir William Darling

asked the Chancellor of the Exchequer if he will consider an arrangement whereby holders of post-war credits may commute their expectations for a proportionately reduced cash payment.

The Financial Secretary to the Treasury (Mr. Douglas Jay)

No, Sir.

Sir W. Darling

In view of the practice of allowing Civil Service pensioners to commute, why should we not consider extending the principle to those who have post-war credits, particularly having in mind that it be a good bargain for the Treasury and a not unsatisfactory arrange-for post-war creditors?

Mr. Jay

These are not pensions but post-war credits and any large extension would be clearly impossible.

Lieut.-Commander Braithwaite

Would the Minister convey to the Chancellor of the Exchequer the desirability of this matter being thoroughly reviewed before his right hon. Friend's Budget statement, owing to the great dissatisfaction in the country at the fact that the Government are not releasing these funds?

Mr. Jay

I can assure the hon. and gallant Member that this matter is being fully considered.