§ Mr. MARCUSasked the Chancellor of the Exchequer whether he intends to introduce legislation for the purpose of enabling trustee savings banks to lend money to local authorities in aid of municipal housing schemes?
§ Mr. PETHICK-LAWRENCENo legislation is necessary to enable the banks to lend the deposits of their46W special investment departments in aid of municipal housing schemes, provided that the requirements of the National Debt Commissioners are fulfilled. Ordinary deposits, as my hon. Friend no doubt knows, are handed over to the National Debt Commissioners who pay interest on them, and it is not proposed to alter this practice.