BUDGET SCANDAL

New Zealand Herald, Volume LXXIII, Issue 22412, 7 May 1936, Page 12

BUDGET SCANDAL

COMMONS DEBATE LEAKAGE OF NEWS OUTSPOKEN CRITICS TRIBUNAL TO INQUIRE By Telegraph—Press Association—Copyright {Received May 6, 6.5 p.m.) British Wireless RUGBY. May 5 The Chancellor of the Exchequer, Mr. Neville Chamberlain, moved a resolution in the House of Commons to-day for the setting up of a tribunal of inquiry to investigate "whether, and, if bo, in what circumstances and by what persons, any unauthorised disclosure was made of information relating to the Budget for the present year, or whether any use was made of any such information for purposes of private gain." Mr. Chamberlain said it did not appear to the Government that any tribunal could he found more thoroughly impartial in character, and more fully clothed in power to obtain all the information available, than a tribunal of the kind proposed. This tribunal would only sit in secret if secrecy was in the public interest The Chancellor said ho was satisfied there would be no withholding of evidence which the public ought to hear. ' "Matter for Public Prosecutor" . Major' C. R. Attlee (Labour Leader) eaid the inquiry ought to have been conducted by the House of Commons with the Director of Public Prosecu'fions making all the necessary inquiries. EU Mr. G. Buchanan (Independent Labour—Gorbals, Glasgow), said that if •there had been a leakage the person responsible was either a highly placed .tiivil servant or a member of the -Cabinet. The Public Prosecutor should have been informed immediately. This '"was a matter on which the next general election might turn. -rloMr. R. D. Denman (Labour —Leeds -Central), as senior member of Lloyds jin the House, said Lloyds would give every assistance. The difficulty would .begin after that assistance when they iwould be up against a screen or a -series of screens between them and the truth. The Resolution Carried Sir John Simon, Home Secretary, replying to Mr. Buchanan's point about -tho next election, said that according cto conventions a Select Committee of the House would have a Government majority. The Government was of the opinion that a tribunal would b» the best authority. Sir D; Somervell, Attorney-General, said the House could rely on him that if it were necessars' to call in the police authorities they would bo summoned. Mr. F. G. Cocks (Labour —Nottingham) : It is no good disguising the name which' has been mentioned all over the town. The Speaker said it was improper to suggest anything of the kind. Sir. Cocks: I wish to add that I have not the slightest evidence in connection with the name or names, but the honour of the House is involved. The resolution was agreed to without division. A message from London on April 25 reported that all the political parties were deeply concerned over the alleged leakages of Budget news prior to its presentation in the House of Commons by Mr. Neville Chamberlain, on April 21. It was" disclosed at a special meeting of 'Lloyd's committee that while Budget insurance usually did not amount to more than £IO,OOO or £15,000, distributed in £IOO and £250 lots, the market was swamped with orders on the last Budget day. These orders amounted to many tens of .thousands of pounds, although previously no interest had been taken. The rate against an increase in income tax rose" from 15 guineas early in the day to 45 guineas in the afternoon. Tea insurance, rose from 20 to 45 guineas. It was impossible to estimate how much tho "prescience" of the insurers cost the underwriters.