§ 54. Mr. John Hallasked the Chancellor of the Exchequer what proposals he has for removing undated stocks with fixed interests from the trustee investment list.
§ Mr. BarberNone, Sir.
§ Mr. HallWill not my hon. Friend agree that the 3½ per cent. War Loan, which has been the subject of recent statements, is a perfect example of the loss which trustee investors can suffer as a result of the limitation placed on their powers of selection of investments? Should not there be a change which does not impose such a loss on trustees?
§ Mr. BarberAs I think my hon. Friend knows, the whole question of trustee investment is now under consideration by the Government.
§ Mr. RidsdaleWhen is it proposed to introduce further legislation to extend the powers of trustee investment?
§ Mr. BarberI am afraid that I cannot say.
§ Mr. ReynoldsWill the Economic Secretary agree that any loss which has been suffered by trustees in this investment is entirely due to the Government's financial policy which has caused a catastrophic drop in the price?
Mr. H. WilsonWill not the hon. Gentleman answer the question asked by my hon. Friend the Member for Islington, North (Mr. Reynolds)? Will he answer the shouts of "Daltons" from those behind him by pointing out that the fall in the value of the so-called Daltons has been far greater under this Government that it was under the Labour Government?
§ Mr. BarberI did not mean any discourtesy to the hon. Member for Islington, North (Mr. Reynolds). The answer, is No, Sir; I most certainly do not accept what he said. So far as Daltons are concerned, I should have thought that those spoke for themselves.