HC Deb 25 October 1932 vol 269 c796
56. Mr. HAMMERSLEY

asked the Chancellor of the Exchequer whether the reports he has thus far received indicate that the low money rates resulting from the Government's policy have been passed on to industry in general?

Mr. CHAMBERLAIN

The beneficial effects of lower interest rates are beginning to become apparent in the terms obtained on Dominion, public utility, railway and industrial public issues successfully made during the past few weeks. In addition to public issues, a considerable amount of private financing has been available on terms which are substantially more favourable to borrowers than would have been possible before the 1st July last.

Mr. HAMMERSLEY

Is my right hon. Friend aware that there is a great deal of resentment throughout the country because of the undue discrepancy between the rates at which joint stock banks borrow and the rates at which they lend?

Mr. CHAMBERLAIN

I have no official knowledge of that.