Local Authorities' Surplus Funds (Investment)

Part of Oral Answers to Questions — National Finance – in the House of Commons on 25th April 1944.

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Photo of Mr Reginald Sorensen Mr Reginald Sorensen , Leyton West

Do we now understand that, if some local authority has a surplus, and even if it wishes to lend it to the Government, it is precluded from such patriotic action, and that no attempt is made to assist it in this direction?