§ 45. Mr. LEACHasked the Prime Minister whether, in view of the number of people with small incomes who are purchasing their houses by means of loans from building societies and who are to suffer increasing financial stringency, the Government are prepared to take steps to compel the building societies to extend the period of repayment and reduce the periodical instalments?
§ The PRIME MINISTERNo, Sir, I do not think that this will be necessary.
§ Mr. LEACHWill not the Prime Minister agree that the present condition of affairs is placing the working-classes who have borrowed from building societies in a very unfortunate and unhappy position?
§ The PRIME MINISTERThat is the question I answered.
§ Mr. W. J. BROWNIn view of the fact that the payment of instalments of 1278 mortgages forms a large part, and a standing part, of the expenditure of large numbers of public servants, will the Prime Minister consider one of two things: either compelling building societies to decrease their charges for the mortgages, or, alternatively, qualifying the index figure of the Ministry of Labour, upon which the cost-of-living bonus is paid, by reference to this particular item?
§ The PRIME MINISTERAs I say, I do not think that will be necessary.
§ Mr. R. A. TAYLORWill the right hon. Gentleman consider some special provisions with regard to unemployed men in relation to their mortgages?
§ The PRIME MINISTERIt would be absolutely impossible to make a differentiation in that way.