HC Deb 01 March 1955 vol 537 cc1873-4
37. Mr. Mitchison

asked the Chancellor of the Exchequer what change there has been in Government policy, as ex pressed in this House on 22nd April, 1953, by the then Minister of Transport, with regard to encouraging hire-purchase arrangements for sale of lorries under the provisions of Sections 3 to 6 of the Trans port Act, 1953; and what restrictions he now proposes to put on such arrangements.

Mr. R. A. Butler

We are continuing to follow the line described by the Economic Secretary on 16th April, 1953, namely, that the provision of such credit in suitable cases is regarded as consistent with Government policy.

Mr. Mitchison

Is not the encouragement of inflation on ideological grounds just as bad as its encouragement for any other purpose, and is the Chancellor going for ever to turn the other cheek to Mr. Gibson Jarvie, who is not really grateful?

Mr. Butler

I am not conscious of ever having taken any such action in respect to the gentleman in question, but credit for the acquisition of these lorries is regarded as credit for business investment, and was, therefore, on the same basis as other similar forms of credit when we were considering the drafting of the new Order.

Mr. Mitchison

But why is it business investment to transfer lorries from public to private ownership?

Mr. Butler

Because this Government think it is a good thing to do.