HC Deb 20 November 1958 vol 595 cc1310-1
24. Mr. Cronin

asked the Chancellor of the Exchequer if he is aware that the trustee savings banks are desirous of arranging for employers to credit monthly salaries directly to customers' accounts in these banks when it is mutually agreeable; and if he will make a statement on his policy on the matter.

Mr. Erroll

I have seen discussion of this matter in the Press, but my right hon. Friend has received no recent representations on behalf of the banks.

Mr. Cronin

Bearing in mind that the trustee savings banks are anxious to increase their services to their customers and that the commercial banks are also starting a simplified banking system, will the hon. Gentleman make it clear that his right hon. Friend the Chancellor of the Exchequer has no intention of favouring the commercial banks as opposed to the trustee savings banks?

Mr. Erroll

My right hon. Friend would certainly look at representations if they were made.

Mr. Jay

Is the Economic Secretary aware that the Treasury has been criticised by the Financial Times for restricting the enterprise of the savings banks in order to help the commercial banks? Will the hon. Gentleman look into the matter to see whether he thinks that this is the kind of thing that the Treasury ought to be doing, even under the present Government?

Mr. Erroll

It is a most unfair criticism, and not for the first time from that Source.