45. Mr. De la Bèreasked the Prime Minister whether he will find time to debate the Motion standing in the name of the hon. Member for Evesham, relating to Building Societies (Interest Rates)?
§ [That this House strongly disapproves the action of certain building societies in increasing the rates of mortgage interest on existing mortgages by the half of 1 per cent., having regard to the effect of such action on interest rates generally, the reduction in saving thereby effected, and the obvious hardship on hard-pressed mortgagors.]
§ The Prime Minister (Mr. Chamberlain)I regret that I can hold out no hope of special facilities being given for discussion of the Motion standing in the name of my hon. Friend.
Mr. De la BèreDoes my right hon. Friend not realise that there is no justification for building societies endeavouring to take advantage of small traders, and does he not think it is indefensible and really brings the whole building society movement into disrepute?