Clause 27 - Investment
Horserace Betting and Olympic Lottery Bill
9:45 am
Mr Nick Hawkins (Surrey Heath, Conservative)
Subsection (3) states that
''the National Debt Commissioners shall comply with any direction of the Treasury.''
That seems to reinforce the huge power that the Treasury has over investment. I am sure that the Minister will say that the commissioners, whatever
they are doing, have to follow every direction of the Treasury, and every Bill relating to the matter has to specify that.
Having not come across the commissioners before, I am slightly curious to know who they are. I do not know whether the Minister has that information now, or whether he would prefer to write to me. It struck me that it was important to point out once again that the Treasury is exercising a vast amount of power.