HC Deb 14 July 1949 vol 467 cc657-8
55. Colonel J. R. H. Hutchison

asked the Chancellor of the Exchequer whether he will now consider allowing money rates to find their true level, thereby encouraging saving and discouraging the liquidation of capital.

Mr. Glenvil Hall

Decisions about the level of money rates involve a number of different factors which cannot be discussed by Question and answer.

Colonel Hutchison

I realise that, but does the right hon. Gentleman agree that there is no real incentive to save when deposit rates are pegged to ½ per cent. permanently?

Mr. Glenvil Hall

I have said we cannot discuss this adequately by Question and answer.