HC Deb 29 March 1956 vol 550 cc2325-6
9. Mr. Gordon Walker

asked the Chancellor of the Exchequer what steps he proposes to take, by promoting legislation or otherwise, to ensure the solvency and the sufficiency of capital resources of companies which invite loans from the public and relend the money for hire-purchase purposes.

Sir E. Boyle

My right hon. Friend has this question under consideration.

Mr. Gordon Walker

Is the Economic Secretary aware of the very sudden increase in such advertisements asking for loans of money from the public, and that it really is important to protect the public from deceit? Is he not also aware that the fact that these advertisements have suddenly sprung up in this way tends to show that the restrictions on hire purchase must be rather defective?

Sir E. Boyle

My right hon. Friend is grateful to the right hon. Gentleman for drawing attention to this. He fully recognises the importance of the matter, but there are complex legal questions involved and I cannot say anything further at present.