§ 4. Mr. Boyd-Carpenterasked the Minister of Housing and Local Government what action he proposes to take in respect of mortgage interest rates in the light of the report by the National Board for Prices and Incomes.
§ Mr. GreenwoodI would refer to the reply which I gave to a Question by the right hon. Member on 1st December.—[Vol. 737, c. 144.]
§ Mr. Boyd-CarpenterDoes that mean that the right hon. Gentleman will not indicate the views of the Government yet? Is he aware that rates are due to move on 1st January? This matter has been before his Department for six months. Does he intend to do nothing about it?
§ Mr. GreenwoodThe point which the right hon. Gentleman must bear in mind is that we have received the report of the National Board for Prices and Incomes on this. It involves a great deal of consideration both by the Government and by the various lending agencies, particularly the Building Societies Association. The Association has a meeting on Friday. It knows well our wish that it should not be necessary for mortgage rates to increase. I have no doubt that the Association will take that into consideration. I do not think that further speculation at this point would be helpful either to the Association or to ourselves.