HC Deb 22 May 1912 vol 38 c2057W
Captain JESSEL

asked the Prime Minister whether he could say who is responsible for meeting the deficiency of assets as regards the liabilities of the Post Office Savings Banks, the Trustee Banks, and the friendly societies, which deficiency on 31st March, 1906, with Consols at 90⅜, aggregated £12,818,475; on 31st March, 1908, with Consols at 87⅝, aggregated over £25,000,000; and on 31st March, 1912, with Consols at 78⅜, aggregated over £30,000,000?


The Consolidated Fund is liable to make good any amount by which the funds held by the National Debt Commissioners may prove insufficient to meet the claims of depositors in the Post Office Savings Banks or of the trustees of Trustee Savings Banks and friendly societies.