HC Deb 05 March 1953 vol 512 cc57-8W
66. Mr. Alport

asked the Chancellor of the Exchequer whether he will revise his existing instructions to the banks to enable them to advance the funds urgently required by firms which suffered damage in the recent floods and which require additional loans to make good the damage and to meet the continuing overhead costs.

Mr. Boyd-Carpenter

The provision of short-term credit for such purposes as my hon. Friend has in mind is part of the ordinary business of the banks, and is not precluded by the terms of the Chancellor's request to them to restrict credit to essential purposes. I have no doubt that the banks will be sympathetic towards applications for loans from firms in the flooded areas.

67. Mr. Janner

asked the Chancellor of the Exchequer what part of the Flood Relief Fund will be used to compensate those victims of the floods who were not insured or whose insurance companies are contending that damage was due not to tempest but to flood; and, if the money is not sufficient, whether he will consider a further grant to cover such sufferers.

Mr. Boyd-Carpenter

Payments of compensation and for the relief of individual distress are being met by the Lord Mayor's Fund. It is for the Lord Mayor to decide how the Fund should be distributed and, as the House will be aware, an announcement has been made on his behalf setting out the basis on which payments will be made for the time being. It deals specifically with the position where policies of insurance exist. It is too early to say whether the Lord Mayor may be able to widen the present basis of payment and this will clearly be affected by the response to his appeal. To the last part of the Question, I can say no more today than that Her Majesty's Government are watching the position carefully.

68. Sir I. Fraser

asked the Chancellor of the Exchequer if the £ for £ grant from the Government for flood damage takes into account funds collected locally, including those already disbursed, which have not and cannot be accounted for, in the general account.

Mr. Boyd-Carpenter

No. As my right hon. Friend the Home Secretary made clear on 19th February, the £ for £ grant applies only to ordinary payments to the Lord Mayor's National Flood and Tempest Distress Fund.

69. Mr. Alport

asked the Chancellor of the Exchequer what form the compensation to public limited liability companies for property damaged during the recent floods will take.

Mr. Boyd-Carpenter

The question of what types of person or body are to receive payments for the relief of distress is primarily a matter for the Committee set up by the Lord Mayor. No arrangements have been made for payments to public limited liability companies since their position differs in many ways from that of individuals or small firms. In any case in which distress to individuals is involved, application can be made to the Lord Mayor's Fund.