§ 42. Mr. John Brewisasked the Attorney-General what was the total sum awarded in 1953 as compensation to the widows and orphans of the crew lost in the "Princess Victoria" disaster and entrusted to the Masters of the Royal Courts of Justice for administration; and what is the actual value of that sum today.
§ The Attorney-General (Sir Elwyn Jones)The total sum paid into the High Court in satisfaction of widows' and orphans' claims arising out of the "Princess Victoria" disaster was £91,550. The greater part of these funds has been paid out in pursuance of orders of the court, and the sum now remaining in court is £11,635 12s. 2d.
§ Mr. BrewisIs it not the case that the value of those funds has depreciated very considerably by being invested in only one undated security? Should not the Attorney-General do something to compensate the widows for the loss they have sustained, which I understand is about 40 per cent.?
§ The Attorney-GeneralIt is true that investment in 3½ per cent. War Loan has proved an unsuccessful form of investment, but I am afraid that I cannot be responsible for the policy of the Masters of the High Court in the mid-1950s. However, I can say that the widows may, if they wish, apply to the court for the reinvestment of the remaining funds. Since the Administration of Justice Act, 1965, was passed, there is a wider system for the investment of funds in court.
§ Mr. BellengerHave all the claims of the widows and orphans of this disaster 440 been met in full, and, if so, what will happen to the residue left in the fund? I ask the question particularly because the public have subscribed large sums of money for a purpose of which we have no knowledge or control.
§ The Attorney-GeneralThe funds to which the hon. Member for Galloway (Mr. Brewis) was referring are funds paid into court in satisfaction of claims brought in the court. I have no knowledge of the disposal of any other fund that was raised in relation to this disaster, but if my right hon. Friend wishes to table a Question I will see whether the information can be supplied.
§ Mr. BrewisIn view of the unsatisfactory nature of the reply, I give notice that I shall raise the matter on the Adjournment.