§ 29. Mr. Hugh Lawsonasked the President of the Board of Trade if he is aware that the sale of furniture by hire purchase results in excessive costs to the purchaser, up to 150 per cent. being added to the manufacturers' costs; and what steps he proposes to prevent this exploitation.
§ Captain WaterhouseThe maximum charge which may be made for hire purchase facilities is 20 per cent, of the cash price of the furniture less the customer's deposit. If my hon. Friend knows of cases where more than this has been charged, I should be glad to have particulars.
§ Mr. LawsonIs the right hon. and gallant Gentleman aware that this figure of 150 per cent. was given by the Secretary of State for Scotland last week, and what does he propose to do about it?
§ Captain WaterhouseI was not aware of that, but I will have inquiries made.