BUDGET INSURANCE

Evening Star, Issue 22359, 8 June 1936, Page 12

BUDGET INSURANCE

BAN ON GAMBLING PRECAUTIONS BY LLOYDS Press Association —By Tejegraph—Copyright LONDON, June 5. Lloyd’s committee has decided to ban gambles on Budget insurance and the practice of taking out any such contingency risk insurances under the cloak of nominees. The committee proposes to obtain 'the signatures of all underwriting. agents to an agreement along those lines. People genuinely desiring protection against budgetary or other contingencies will not be deprived of facilities, but others will be prevented from more gambling. . The underwriters have decided to accept Mr Bates’s refund of £10,750, and have also discussed whether an endeavour should be made to obtain repayment from others who were paid Budget insurances. No offers of a refund have yet been received. A further meeting regarding the matter will be held next week. MR J. H. THOMAS RESIGNATION THOUGHT DESIRABLE. 1 LONDON, June 6. The ‘ Morning Post’s ’ political correspondent says that informal representations are being made to Mr J. li. Thomas and Sir Alfred Butt that the inevitable embarrassment facing the r House of Commons in discussing the Budget tribunal’s report will be relieved by their resignations. Negotiations are now proceeding between the Government and Opposition parties with the object of finding a resolution which would be unanimously adopted. The resignations of Mr Thomas and Sir Alfred Butt, it is pointed out, would not prevent either seeking re-election at consequent by-elections.