§ Mr. Woodburnasked the Chancellor of the Exchequer whether, in view of the monopoly enjoyed by the Bank of England in money contracts with the Government it is now proposed to restrict its remuneration for such work to a cost-plus-management fee-basis as in the case of other large Government contractors?
§ Captain CrookshankNo, Sir. Much of the special work arising out of the war and now performed by the Bank of 491W England for the Government is carried out at cost. For more normal services the Bank receives remuneration according to scales fixed by Acts of Parliament or by Treasury minutes made thereunder and based broadly on cost and on the amount of work done. Further, I would remind my hon. Friend that in the event of the Bank's profit increasing as a result of the war, the Bank is subject to the 100 per cent. Excess Profits Tax.