HC Deb 14 February 1957 vol 564 c1427
27. Mr. Lipton

asked the Chancellor of the Exchequer whether he will introduce legislation requiring building societies to reduce interest rates to borrowers to correspond with reductions in the Bank Rate.

Mr. Birch

No, Sir.

Mr. Lipton

Will the right hon. Gentleman not agree to set up a committee to probe the rather tricky methods of manipulating interest charges employed by these money-lenders, which are bitterly resented by hundreds of thousands of house-purchasers who discovered too late how the dice are always loaded against them by their so-called benefactors?

Mr. Birch

I think that the hon. Member's statement is entirely unfounded.