HC Deb 25 March 1958 vol 585 cc201-2
6. Mr. Osborne

asked the Chancellor of the Exchequer, in view of the fact that in hire-purchase trading the total loans increased by £80 million to £484 million in 1957, and that the high rates charged on these loans tend to increase the cost of living, what new steps he proposes to take to make his credit-restriction policy in this field more effective.

Mr. Amory

I am considering the whole question of the provision of finance for hire purchase, but can make no statement at present.

Mr. Osborne

Did my right hon. Friend see in the City article of the Daily Telegraph this morning the statement that: Once again a hire-purchase finance company has stolen a march on the Treasury"? In view of the fact that a month ago he promised to investigate and try to stop this loophole, will he do something fairly quickly to stop the abuse?

Mr. Amory

I have not seen the article or letter in question, but I shall make a point of reading it.