HC Deb 04 June 1940 vol 361 cc771-2
53. Mr. Stokes

asked the Chancellor of the Exchequer whether he now controls the fixing of the Bank Rate?

The Chancellor of the Exchequer (Sir Kingsley Wood)

Under Clause 2 of the recent Emergency Powers Regulations and within the ambit of those Regulations I have power to give directions in this matter.

Mr. Craven-Ellis

Could the right hon. Gentleman exercise the authority which he states that he now has?

Sir K. Wood

I could do so, but I am not satisfied that the situation requires it.