§ 15. Mr. Silvesterasked the Chancellor of the Exchequer on how many occasions since October, 1964, there have been changes in Bank of England instructions to the clearing banks about their lending policy; and how many of these occasions have been within the past 12 months.
§ Mr. Roy JenkinsThe number of requests have been eight and two respectively.
§ Mr. SilvesterIs it not the case that frequent changes of this kind are not conducive to good banking practice or to forward planning in industry, and will the Chancellor try to unstrip them in future?
§ Mr. JenkinsYes, Sir. I certainly had no desire to make changes except when I thought they were absolutely necessary.
§ Mr. W. BaxterWhat attitude does my right hon. Friend take to close companies that have been compelled to dispose of their profits and, by virtue of doing so, are now compelled to apply to the banks for overdrafts which they have never before needed to ask for? How will they be affected by the new practice?
§ Mr. JenkinsI do not think the question of close companies, which I certainly have regard to and regard as important, arises out of this question.