HC Deb 30 January 1951 vol 483 c725
65. Mr. Maudling

asked the Chancellor of the Exchequer whether, in view of the increasing danger of inflation, he will take further steps to restrict the provision of hire-purchase credit facilities for consumer goods.

Mr. Gaitskell

Both the Capital Issues Committee and the banks are continuing to give full co-operation to His Majesty's Government in seeking to ensure that financial facilities for hire purchase are not increased. I am considering whether any further action is desirable.

Mr. Maudling

Is the Chancellor aware that it is very difficult in practice for the banks to exercise restraint of this kind, and will he consider introducing regulations on the lines of the American Regulation W?

Mr. Gaitskell

According to my information, the banks have been very successful in carrying out the policy which we asked them to carry out. This is a difficult and complicated matter and I shall require to consider all these points very carefully.

Sir H. Williams

Would the right hon. Gentleman pass on that information to the British Electricity Authority and the Gas Council?