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M'grigor's Bank

Volume 161: debated on Wednesday 14 March 1923

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asked the Under-Secretary of State for War on what grounds the War Office has refused to assist regimental funds which have suffered as a result of the failure of M`Grigor's Bank; and why the distinction is made between compensation to officers and the non-payment of any compensation to funds concerned with private soldiers and non-commissioned officers, many of which funds are devoted solely to charitable purposes?

In view of the very varied nature of the accounts classed as regimental funds, it was decided by the Government that the grant of 10s. in the £ should be given only in cases where the loss involved serious hardship to individuals. That, I think, covers the hon. Member's point about charitable purposes. The decision whether such hardship exists in each case was entrusted to a Committee presided over by Lord Askwith. The War Office is giving effect to the findings of that Committee. In this respect there is no distinction between officers and men.