HC Deb 14 February 1929 vol 225 cc546-7
59. Mr. TAYLOR

asked the Chancellor of the Exchequer whether any consultation with the Treasury took place before the recent rise in the Bank rate was decided upon?

65. Mr. ERSKINE

asked the Chancellor of the Exchequer whether, before the Bank rate was raised to 5½ per cent., there was any consultation with the Treasury?

Mr. CHURCHILL

I was, of course, fully informed beforehand. But the assent of the Chancellor of the Exchequer to movements of the Bank rate is not required by law or custom.

Mr. TAYLOR

Would it be accurate to say that the Chancellor expressed approval?

Mr. CHURCHILL

I think that the answer I have given is one which is entirely in accordance with propriety and precedent.

Mr. TAYLOR

I am asking the right hon. Gentleman a simple question and a direct question. Would it be accurate to say that he expressed approval or not?

HON. MEMBERS

Answer!

Mr. SPEAKER

That is exactly the question that the hon. Member asked before.