§ 6. Mr. Iremongerasked the Chancellor of the Exchequer what is the total amount of post-war credits outstanding now; and what considerations govern his decision as to whether or not to repay them at any given time.
§ The Chancellor of the Exchequer (Mr. James Callaghan)About £217 million, plus £38 million in respect of accrued interest. Changes in the conditions of repayment are made in the light of the general economic situation.
§ Mr. IremongerWill the right hon. Gentleman recognise that he always has a choice to make when he is able to increase purchasing power, particularly in regard to those to whom he should give money, and will he now consider giving a really higher priority to those people who have been promised it by successive Governments?
§ Mr. CallaghanYes, Sir, but, without reverting to the last Question, it is very difficult both to reduce taxation and increase expenditure, as I spent some time explaining to right hon. Gentlemen opposite during the General Election.
§ Mr. BessellWould the right hon. Gentleman say whether he will consider special cases; people who are suffering particular hardship and to whom repayment would give special benefit?
§ Mr. CallaghanYes, Sir. There is a wide variety of cases which can be met where hardship arises. They are well understood, and I will gladly see to it that the hon. Gentleman gets a copy of the circular explaining them, which is available to everybody.