§ 39. Mr. Peyton
asked the Chancellor of the Exchequer if he will take steps to minimise the delay in deciding on applications to the Capital Issues Committee.
§ The Economic Secretary to the Treasury (Sir Edward Boyle)
Everyone who handles these applications is anxious that they should be decided as soon as possible, and about half the cases are considered by the Committee within ten days of the application being received.
§ Mr. Peyton
Would my hon. Friend look at the case, details of which I sent to the Chancellor of the Exchequer the other day, in which application has been made for a short-term loan for five months, yet it took six weeks to get the reply? Does he realise that this reduces the whole machinery to a complete mockery and is earning nothing but disrespect for it?
§ Sir E. Boyle
Yes, I looked most carefully into this case, and I am sorry about it. I am writing to my hon. Friend about it. The trouble was that two Government Departments had to be consulted first.