Orders of the Day — Post Office and Telegraph [Money]

Part of the debate – in the House of Commons at 12:00 am on 13th June 1952.

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Resolution reported, That, for the purposes of any Act of the present Session to provide for raising further money for the development of the postal, telegraphic and telephonic systems and of any other business of the Post Office, and for the repayment to the Post Office Fund of money applied thereout for such development, it is expedient—

  1. (i) to authorise the issue out of the Consolidated Fund of such sums, not exceeding in the whole seventy-five million pounds, as may be required for the purposes of such development or of such repayment as aforesaid;
  2. (ii) to authorise the Treasury to borrow by means of terminable annuities for the purpose of providing money for sums so authorised to be issued, or for repaying to the Consolidated Fund all or any part of the sums so issued, and to authorise payment into the Exchequer of any sums so borrowed;
  3. (iii) to provide for the payment of such terminable annuities out of moneys provided by Parliament for the service of the Post Office, or, if those moneys are insufficient, out of the Consolidated Fund.