§ 41. Mr. POTTERasked the Chancellor of the Exchequer if, in view of cheaper money following the reduction in the Bank rate, he is prepared to introduce legislation with a view to fixing a 19 maximum rate of interest to be charged in respect of overdrafts granted by the Bank of England and the joint stock banks?
§ Major ELLIOTI should welcome any arrangement which would promote the widest possible extension of the benefits of cheap money consequent on the reduction in the Bank rate, but I do not think that this object can be attained by means of legislation.