§ Mr. Whitakerasked the President of the Board of Trade whether he will introduce legislation to require insurance companies and banks to establish a general guarantee reserve fund with which to indemnify members of the public who suffer as the consequence of a failure.
§ Mr. JayQuestions relating to banks are for my right hon. Friend the Chancellor of the Exchequer. As to insurance companies I am not convinced that legislation of the kind suggested is necessary. Arrangements already exist under which the Motor Insurers Bureau compensate third parties who are killed or injured by inadequately insured motorists.