Banking and Insurance Committee.

Oral Answers to Questions — National Finance. – in the House of Commons on 23rd June 1942.

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Photo of Mr Daniel Frankel Mr Daniel Frankel , Stepney Mile End

asked the Chancellor of the Exchequer whether, in the appointment of the committee to examine the banking and insurance industry, consideration was given to the desirability or otherwise of making the committee independent of the interests concerned; why the committee is substantially composed of persons representative of those interests; and whether he will now consider giving a better balance by adding representatives of those employed in the industry?

Photo of Sir Kingsley Wood Sir Kingsley Wood , Woolwich West

This committee was expressly designed to conduct an independent investigation and not to be a body representative of the interests directly affected, whether as employer or employee. Those interests will, of course, be given ample opportunity to express their respective points of view to the committee.

Photo of Mr Daniel Frankel Mr Daniel Frankel , Stepney Mile End

Can this body be described as independent if it is controlled, as I understand it is, by those interested in the banking industry?

Photo of Sir Kingsley Wood Sir Kingsley Wood , Woolwich West

No, Sir. If the hon. Member will see me afterwards, I will give him a list of the members of the committee, and exactly what vocations they follow.