HC Deb 15 May 1952 vol 500 cc1619-20
33. Brigadier F. Medlicott

asked the Financial Secretary to the Treasury if he has now completed his examination of the difficulties experienced by trustees who are limited to the existing range of investments authorised by law for the investment of trust funds; and if he will make a statement.

Mr. Boyd-Carpenter

No, Sir; I cannot yet make a statement.

Brigadier Medlicott

Is my hon. Friend aware that the limitations of the existing list are causing great hardship to a large number of people whose only means of livelihood is from a small range of investments; and when he is looking at the matter again will he in any case consider the possibility of amending the law so that the list could be revised at intervals by the Public Trustee, for example, acting on advice from the Law Society, the Council of the Stock Exchange and other suitable and responsible bodies?

Mr. Boyd-Carpenter

As I told my hon. and gallant Friend on 31st January, I realise that this is a difficult problem which causes difficulties sometimes to trustees. We are looking at the matter, but as my hon. and gallant Friend will know from his own professional experience, it is not free from complication.