§ 33. Mr. Bruce-Gardyne
asked the Chancellor of the Exchequer if he will introduce legislation to require joint stock banks to compete amongst each other in the rates of interest they offer to their customers.
§ Mr. Harold Lever
I have nothing to add to the Answer which I gave to the hon. Member for Meriden (Mr. Speed) on 4th March.—[Vol. 779, c. 65.]
§ Mr. Bruce-Gardyne
Does the Financial Secretary recall that the Prices and Incomes Board recommended a measure of this kind almost two years ago? Although the Prices and Incomes Board has produced a great deal of fatuity, occasionally it offers a glimpse of the obvious. Would it not help the Government in their control of credit by enabling 226 market forces to control the rates of interest and the price charged to borrowers both in the public and in the private sectors?