42. Mr. De la Bèreasked the Chancellor of the Exchequer whether, in connection with the rise in deposits at the clearing banks which has taken place, and is continuing, he can state approximately the percentage or amount of these deposits upon which the clearing banks are not paying any interest to depositors; and whether he can state the amount or approximate percentage on which they are paying interest at the rate of 10s. per cent.?
§ The Chancellor of the Exchequer (Sir Kingsley Wood)I regret that this information is not available.
Mr. De la BèreIs it not a fact that in the large majority of cases the interest paid to depositors by the banks does not exceed 10s. per cent.? Why should the banks make a charge of 5 per cent. to agricultural borrowers? Is my right hon. Friend aware that agricultural production has been handicapped by the excessive charges to agricultural borrowers? Why does not the Treasury take power to insist that banks should reduce their rate of interest to agricultural borrowers in their time of need in war?
§ Sir K. WoodThe Minister of Agriculture and I have given many answers on that subject.