§ 36. Mr. Jayasked the Chancellor of the Exchequer what action he proposes to check the renewed expansion of bank advances.
§ 30. Mr. Lewisasked the Chancellor of the Exchequer if he is aware that the banks have allowed a £83,300,000 June increase in overdrafts, bringing the total to over £2,000 million; that, since January, despite the Treasury directives, the banks have allowed these overdrafts to increase by nearly £216 million; whether he will take powers to inquire to whom these overdrafts have been issued and for what purpose; and what action he proposes to take to stop these inflationary activities of the banks.
§ Mr. BirchThe increase in the end-June figures is partly seasonal. The mid-July figures published today show a reduction since end-June of £88 million. Taken together, these figures do not lead my right hon. Friend to conclude that the arrangements for the control of bank credit announced in his Budget statement of 9th April are not operating to good effect.