§ 7. Mr. Aitken
asked the Secretary of State for Trade what representations he has received concerning the Fisher report on Lloyd's; and if he will make a statement.
§ Mr. Aitken
Does my hon. Friend agree that one of the most serious issues now affecting Lloyd's is the lack of adequate powers and procedures for dealing with the growing problem of international insurance frauds? Will he make sure that if there are to be any new proposals for a Lloyd's Act that gap will be filled?
§ Mr. Eyre
Lloyd's has made a valuable contribution to the country's economy for hundreds of years. I regard it as most important that Lloyd's should continue as a self-regulating body. The proposals that will come forward for consideration in the Bill place responsibility upon Lloyd's for dealing with matters of internal regulation to which my hon. Friend refers.
§ Mr. John Wells
I am delighted to hear from my hon. Friend that he believes that Lloyd's should continue to be self-regulating. One would deprecate any Government interference—
§ Mr. Wells
In a long second, Mr. Speaker.
One would deprecate any Government interference with a body that has produced such wealth for our country from international sources. I hope that my hon. Friend—[Hon. Members: "Question"] A hope is a question. Will my hon. Friend assure the House that the Government will give the Lloyd's Bill a fair wind when it comes before us?