§ 33. Captain Lyonsasked the President of the Board of Trade whether, in dealing with the question of the concentration of trade, he will examine how far the retail principle called "consumers' credit," has justified itself in the light of the position of the distributing firms and their related financing concerns at the present war period and state of employment?
§ Captain WaterhouseI assume that my hon. and gallant Friend is referring to hire-purchase arrangements or similar method of obtaining delivery of goods before full payment has been made for them. In so far as such arrangements enable people to buy essential articles which they otherwise could not afford, they are clearly advantageous; but, in so far as they stimulate a demand in wartime for unnecessary articles, and thus lead to the diversion of labour and other resources from essential work, they are not to be encouraged. No doubt the Retail Trade Committee will consider any effect they may have on the special problems with which they are concerned.
§ Captain LyonsI take it that the matter will be referred to that committee?
§ Captain WaterhouseYes, Sir.