§ 38. Sir C. Osborneasked the Chancellor of the Exchequer if he will make a statement on the report to him on the Governor of the Bank of England's discussion with the three major credit card companies, Enocard, American Express, and Diners Club to support his policy of restricting foreign spending to £50; and what new restraint on personal 244 spending in this regard he proposes to impose.
§ Mr. MacDermotCredit card holders must be subject to similar restrictions on travel expenditure as other people. The companies have made certain proposals to this end which are being considered.
§ Sir C. OsborneWhen shall we know what those proposals are? Is the Chancellor satisfied that he will not have to impose further restraints on personal spending both at home and abroad?
§ Mr. MacDermotThere is no question of further restraints. Credit card facilities, if they can be used for these purposes, must be contained within the limits announced. We hope to reach a final decision shortly. There have already been two meetings with the companies concerned and we are trying to get the matter decided as quickly as possible.