asked the Prime Minister if he will consider the advisability of appointing a Royal Commission to inquire into the best means of liquidating in whole or in greater part the National Debt?

I would refer my hon. Friend to the statement made on Tuesday by the Prime Minister. Steps are being taken to appoint an expert Committee accordingly. If the hon. Member will put down a question for Tuesday, I hope to be able to give the terms of reference.

Will this Committee have the same powers as a Royal Commission?

How many will be on the Committee?

I cannot, answer that. question definitely at the moment, hut we are very anxious that the Committee should not be too large, and I shall probably confine it to nine or ten. I am afraid that. I cannot answer the question as to the difference between the 1 ewers of a Royal Commission and such a Committee as we propose to set up. I have experience of many Royal Commissions and Committees, and have not yet been able to find out exactly what is the difference between the two.

Is this to be a Departmental Committee?

It is to be a Committee set up by the Treasury.

Is it intended to include on this Committee a Majority of representatives of this House?

It is not my intention to appoint any Member of this House.

Will the right hon. Gentleman appoint on this Committee representatives of non-political, great commercial bodies in this country?

I cannot at the moment, or for some time, announce the composition of the Committee. Hon. Members will understand that it takes time to communicate with the persons whom we desire to serve, but I think that I am justified in saying that when we do make, the announcement of the constitution, it will give universal satisfaction and command general confidence.

Will any opportunity be given to this House of discussing the terms of reference?

I am afraid not.

Will the Committee report to the House or to the Cabinet?

To me.