HC Deb 17 October 1968 vol 770 cc554-5
6. Mr. Anderson

asked the Secretary of State for Wales what has been the policy of his Department in regard to plans submitted to him to develop a National Bank for Wales.

Mr. George Thomas

All proposals put to me will be carefully examined, but I propose to await the result of the Welsh Council's study of the availability of private and public capital in Wales before forming a considered view on this matter.

Mr. Anderson

This is good news. Will my right hon. Friend accept that those of us who are attracted by the proposal initially view it not as wholly essential to nationhood but as a practical contribution to industrial investment and putting the Principality on the map financially?

Mr. Thomas

It is because of those considerations and others that I feel that this is not a mater for hasty judgment.

Mr. Hooson

I am grateful that the Minister so readily saw Mr. John Ellis, who proposed the idea. Has he any intention of having talks with, for example, the Governor of the Bank of England about this matter and passing on any information he gleans to the Welsh Economic Council before it advises him?

Mr. Thomas

The hon. and learned Gentleman should not be under a misapprehension. I was pleased to see Mr. Ellis, but the idea had been canvassed much earlier by the old Welsh Economic Council and considered by it and the present Welsh Council. The question of who shall be consulted must remain until I have the views of the Welsh Council.