Clause 2. — (Capital Expenditure for Purposes of Post Office Savings Bank Not to Be Paid Out of Post Office Savings Bank Fund.)

Part of Orders of the Day — Post Office and Telegraph (Money) Bill – in the House of Commons at 12:00 am on 13th June 1952.

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Photo of Mr Reginald Paget Mr Reginald Paget , Northampton 12:00 am, 13th June 1952

I think, Sir Charles, that the speed of a Member's speech is not normally within the jurisdiction of the Chair.

I was saying that this is a rather complicated discussion and one is apt to lose the trail, but I think that the Minister will agree that the underlying assumption is that we were dealing with these investments and premises in perpetuum and not as to the existing premises already there. In that sense, I would agree that there is not a transfer of existing property; it is a transfer of future property, and I think that all future property is widened by the very wide words of Section 5 which expands the general meaning of property by bringing in the annuity conception, if I may put it in that way, and also affecting, as we have seen in Section 8, the problems of the ratio of the deposits.