§ Q2. Mr. Liptonasked the Prime Minister whether the public speech of the Chancellor of the Duchy of Lancaster at Leicester on 7th July last about house mortgages represents the policy of Her Majesty's Government.
§ The Prime MinisterYes, Sir.
§ Mr. LiptonDoes the Prime Minister know that his right hon. Friend's admission that the Government had no definite plans to make house purchase easier was greeted with bleak dismay by the general public and that it helped to put the Conservative candidate in the by-election at Leicester, North-East at the bottom of the poll? In these circumstances, why did he not sack the Chancellor of the Duchy of Lancaster as well? It might have made all the difference.
§ The Prime MinisterThis is a Question about the rate of long-term interest. Short-term rates have dropped and I hope that it is not unreasonable to expect that in due course the long-term interest rate may drop also.