§ Mr. Liddall
asked the Chancellor of the Exchequer whether a decision has been yet arrived at, with a view to saving paper, by making it feasible and legal to recognise endorsed cheques with receipt stamps as full receipts of payment?
§ Sir K. Wood
I understand that the banks already permit customers to incorporate receipt forms in their cheques, provided that the customer gives the bank a suitable indemnity. It would not be possible to make general provision for this practice without at the same time legislating to maintain the position of the banks under the Bills of Exchange Act. In addition, such a change would involve the risk of dislocating accounting systems and disturbance to business practice generally. While the Government are anxious to secure economy in paper consumption by all possible means, I fear that in this case the practical difficulties are such as to outweigh any gain that might result from the saving in paper supplies.