§ 2. Mr. Osborneasked the President of the Board of Trade if, as a step towards combating inflation, he will increase substantially the deposit required on all hire-purchase agreements, and reduce the time and number of payments to complete.
§ Mr. OsborneIs my right hon. Friend aware that quite recently one of the leading hire-purchase finance corporations showed an increase in bank overdrafts and loans of no less than £4 million in one year? Why should these corporations be exempted from the credit squeeze? Since inflation is the one great danger that the country faces, why does not my right hon. Friend do something about it?
§ Sir D. EcclesThe outstanding hire-purchase debt fell by some £90 million during 1956 and had risen by the end of May this year by £12 million. I do not think that that is a very serious change.