§ 3. Mr. Osborneasked the Chancellor of the Exchequer why his restrictions discriminate between the big five English banks, which are not allowed to engage in hire-purchase financing, and a Scottish bank, which is so permitted and if he will make a statement.
§ Mr. SimonI regret that I cannot just at present add to the reply given by my right hon. Friend the Chancellor of the Exchequer on 24th June
§ Mr. OsborneWhy should one Scottish bank be given the privilege and the five big English banks be denied the same kind of facilities? Secondly, if credit facilities are to be eased in the near future, would it not be better to have hire-purchase finance in capable and responsible hands such as the big five banks than to let them continue as they are at present?
§ Mr. SimonI hope my hon. Friend will acquit me of discourtesy if I do not enlarge on my original Answer.
Mr. H. WilsonIs the Radcliffe Committee inquiring into this as a specific part of its inquiries? If not, would the hon. and learned Gentleman recommend his right hon. Friend to institute a full inquiry into the whole question of hire-purchase finance, which goes very much wider than the point raised in the Question?
§ Mr. SimonI am afraid I should need notice of the first part of that supplementary question. I will certainly draw the second part of it to my right hon. Friend's attention.