26. Mr. Gresham Cookeasked the President of the Board of Trade the reason for discriminating in the hire-purchase restrictions against public service vehicles and goods vehicles of over 30 cwt. carrying capacity by refusing to extend to them, as to other mechanically propelled road vehicles, the reduction to 20 per cent. in the minimum initial hire-purchase deposit payable; and when he proposes to take remedial action in this matter.
§ The Parliamentary Secretary to the Board of Trade (Mr. F. J. Erroll)An Order has been laid before Parliament today, to come into operation tomorrow, fixing a common minimum deposit of 33⅓ per cent. for all mechanically propelled vehicles. The Order also reduces the minimum deposit for machinery and plant from 50 per cent. to 33⅓ per cent.
Mr. Gresham CookeIs my hon. Friend aware that operators of goods vehicles and coaches will receive that news with a good deal of satisfaction. equalled only, I think, by the dissatisfaction with which motorists will receive the news that their minimum deposit has gone up from 20 to 33⅓ per cent.?