HC Deb 26 January 1973 vol 849 c263W
Mr. David Steel

asked the Chancellor of the Exchequer why banks have been permitted to increase their rates of interest on overdrafts and their profits during the period of the prices and incomes standstill.

Mr. Nott

Interest rates were excluded from the standstill legislation because of their importance for controlling the growth of money and credit, which is an essential element in the authorities' management of the economy.