§ 27. Mr. Stevensasked the Chancellor of the Exchequer if, in order to reduce the net cost of administration of bankruptcy and winding-up proceedings, he will consider making provision for the investment in equity shares of moneys arising in these circumstances and deposited with the Board of Trade.
§ Mr. ErrollThe whole question of the investment of these funds is at present under review.
§ Mr. StevensIs my hon. Friend aware that in recent years a number of highly-respectable institutions, such as insurance companies and the Church Commissioners, have so changed their policy? Is he further aware that that policy is likely always to be profitable, as industry keeps so vigorously prosperous under a Conservative Government?
§ Mr. ErrollWhile agreeing with my hon. Friend's general contention, I must point out that these funds are withdrawable on demand, and are normally withdrawn after comparatively short periods. It is, therefore, necessary to invest in very liquid stocks, and equity capital would not be suitable for this.