HL Deb 04 May 1971 vol 318 cc149-50

2.46 p.m.

LORD HOY

My Lords, I beg leave to ask the Question which stands in my name on the Order Paper.

[The Question was as follows:

To ask Her Majesty's Government whether they are now in a position to make a statement on the application of the trustee savings banks to make personal loans.]

THE MINISTER OF STATE, DEPARTMENT OF HEALTH AND SOCIAL SECURITY (LORD ABERDARE)

My Lords, this proposal would have important implications for the future development of the trustee savings banks and for their relationship with the Government and with the banking world. These are matters which the Committee being set up to review the future role and development of the National Savings Movement can be expected to examine, and a decision on the personal loans scheme must inevitably await the outcome of that review. The Chairman of the Trustee Savings Banks Association has been informed accordingly.

LORD HOY

My Lords, that is an exceedingly disappointing reply, coming after a very long period of delay. It seems that by Government action millions of people in this country are denied the right to a personal loan, people who are not only depositors in these savings banks but are really part of the backbone of the British economy. I only hope that the Government will not delay for very much longer.

LORD ABERDARE

My Lords, I am not sure whether the noble Lord asked a question or not. I realise that it is a disappointing Answer, but this Review Committee is in being and it would not be sensible to go ahead until it has had a chance to report. It would be open to the Trustee Savings Banks Association, if they so wished, to ask the Committee to prepare an interim report on this particular matter.