§ 20. Mr. Rankinasked the President of the Board of Trade whether, in view of the falling-off in the demand for television and radio sets, he will now consider excluding these items from the Hire Purchase and Credit Sales Agreements (Control) Order, 1952, or, alternatively, repeal the Order entirely.
§ Mr. H. StraussNo, Sir.
§ Mr. RankinDoes the Minister not realise that so far as these two particular items are concerned, the Credit Sales Agreement just does not mean a thing, and in view of that why should he deceive himself and the trade that it is having any effect whatsoever?
§ Mr. StraussIf it does not mean a thing, I do not know why the hon. Member is so anxious for its repeal. The fact is that this Order must be considered as part of the Government's general economic and financial policy and not in isolation. The hon. Member and the House will remember that this industry has benefited by the recent reduction by 25 per cent. in the rate of Purchase Tax.
§ Mr. RankinSurely the Minister knows that the Order is being completely side-tracked by the system of rentals agreement which is in existence.
§ Mr. StraussI have explained to the hon. Member on many occasions the difference between a rental agreement and a hire purchase agreement, and I thought that he understood it.