Lieutenant-Commander CRAIGasked the Secretary to the Treasury what, in round figures, up to the present time have been the receipts and payments, respectively, under the Government scheme of aircraft and bombardment insurance; what, in round figures, was the aggregate amount in hand on the 11th November, 1918, representing proportions of unexpired premiums paid before and relating to periods of insurance commencing before that date; and whether the Government has retained these unexpired premiums?
§ Mr. BRIDGEMANMy hon. Friend has asked me to reply to this question. I would refer my hon. Friend to the answer given to the hon. Member for Ealing on the 24th instant. It is proposed to lay before Parliament shortly an interim1968W statement showing the approximate results of the various Government war risk insurance schemes.
Lieutenant-Commander CRAIGasked the Secretary to the Treasury whether the Government scheme of aircraft and bombardment insurance was originated with the purpose of assisting out of national resources to insurance at easy rates persons exposed to enemy attacks by sea and air; and whether he will consider the desirability of distributing the profits, if any, made by the Government in the conduct of the insurance scheme, as well as proportions of unexpired premiums, so as to relieve the Government from the suspicion of having conducted a commercial enterprise under the guise of assisting the people?
§ Mr. BRIDGEMANMy hon. Friend has asked me to answer this question. The Government scheme of aircraft and bombardment insurance was formed with a view to providing insurance at as low a rate as practicable against damage to property by air raids and bombardment. The profit resulting from this scheme is paid into the public Exchequer, which financed the scheme, and which would have had to find the money if there had been a loss.