§ Lieutenant Butcherasked the Chancellor of the Exchequer whether he is aware of the increasing deposits in the hands of the joint stock banks; and whether, with a view to securing the maximum investment in the various war savings issues, he will direct the banks to make a charge for the custody of such funds?
§ Captain CrookshankMy right hon. Friend is aware of the increase in bank deposits. It is most desirable that all who have money on deposit should, when they can, invest it in war savings issues. But money held on deposit may be needed to meet short-term commitments and not be available for investment, and for this and other reasons my right hon. Friend does not think that it would be desirable the introduce the procedure suggested in the Question. So far as there is for any reason an increase in bank deposits at any time, the Treasury deposit: receipt arrangement allows the Treasury to adjust its borrowings to the weekly variations in Government revenue and expenditure.