HC Deb 31 May 1956 vol 553 c413
9. Mr. R. Bell

asked the Chancellor of the Exchequer whether he will introduce legislation to raise the maximum limit of £500 on life assurance benefits imposed on friendly societies.

Mr. H. Brooke

No Sir, I am not satisfied that there is a case for raising this limit.

Mr. Bell

Would not such an increase to encourage savings be entirely consonant with the policy of the Chancellor in his Budget statement?

Mr. Brooke

I explained during the Second Reading of the Friendly Societies Bill this Session why the Government were not proposing any increase in tax exemption on friendly societies or any withdrawal of their existing facilities. So far as I can remember, in the rest of the passage of the Bill, no hon. Member on either side pursued the point further.