§ 64. Colonel Crosthwaite-Eyreasked 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. DaltonThis is in no way contrary to Government policy.
§ Colonel Crosthwaite-EyreDoes 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. DaltonNational credit is steadily improving under this Government.
§ Lieut.-Commander BraithwaiteCan the Chancellor say whether he has been making use of his powers under the Bank of England Act in this matter?
§ Mr. DaltonNo, Sir.