HC Deb 28 November 1946 vol 430 c1781
64. Colonel Crosthwaite-Eyre

asked the Chancellor of the Exchequer whether it is in conformity with the policy of His Majesty's Government that the big five banks have doubled their holdings of Government obligations from the prewar level.

Mr. Dalton

This is in no way contrary to Government policy.

Colonel Crosthwaite-Eyre

Does not the Chancellor consider that, possibly under some less enlightened leadership, the high percentage of between 70 per cent. and 80 per cent. is very dangerous to national credit?

Mr. Dalton

National credit is steadily improving under this Government.

Lieut.-Commander Braithwaite

Can the Chancellor say whether he has been making use of his powers under the Bank of England Act in this matter?

Mr. Dalton

No, Sir.