HC Deb 10 March 1955 vol 538 c610
52. Mr. Parkin

asked the Chancellor of the Exchequer what fresh guidance he has given to the banks on the subject of the provision of credit to traders who finance and administer their own hire-purchase sale.

Mr. Maudling

The guidance recorded in my right hon. Friend's reply of 25th February to my hon. Friend the Member for Farnham (Mr. Nicholson) applies to all forms of hire-purchase finance.

Mr. Parkin

Will the Minister bear in mind that the small trader, administering his own scheme and knowing his own customers, is very often able to carry out the work more cheaply than hire-purchase firms can do and therefore is not obliged to demand such onerous rates of interest? Will he think of giving some special consideration to the small trader?

Mr. Maudling

I think that the arrangements made by my right hon. Friend the Chancellor of the Exchequer and the President of the Board of Trade are working out very satisfactorily to all concerned.