HC Deb 05 July 1960 vol 626 cc224-5
39. Mr. Grey

asked the President of the Board of Trade by what percentage the hire-purchase debt per head of the population has risen in the north-east of England in the past twelve months compared with the rise in Great Britain.

Mr. J. Rodgers

I regret that there is no separate information for the different regions of the country; for the country as a whole hire-purchase debt per head of population rose about 40 per cent. between May, 1959, and May, 1960.

Mr. Grey

Is the Parliamentary Secretary aware that the hire-purchase debt in the North-East is less than anywhere else in the country? As there is no inflation there, will he give an assurance that he will use caution in dealing with the situation and do his best to insulate the North-East from the full effects of the credit restriction?

Mr. Rodgers

We will do our best to steer new industries there to deal with the undoubted unemployment situation which exists.

Mr. Short

Is the hon. Gentleman aware of the recent case of an industrialist whom I took to see his officials at the Board of Trade? The industrialist was refused any credit by the Government and refused any worth-while credit by the banks. How does the hon. Gentleman reconcile that sort of case with the Answer which he gave to me just now and the Answer which he has given to my hon. Friend?

Mr. Rodgers

I am afraid that I cannot go into individual cases.