§ 4. Mr. Evelyn Kingasked the Chancellor of the Exchequer whether he will now raise the rate of interest on post-war credits or take steps to repay them.
§ Mr. Harold LeverI cannot anticipate my right hon. Friend's Budget Statement.
§ Mr. KingDoes the hon. Gentleman appreciate that if a citizen wants to borrow money he has, on the Government's instructions, to pay something like 10 per cent. interest, yet when the Government take what amounts to a forced loan from the citizen all that he gets is about 3 per cent? Would he agree that this is wrong?
§ Mr. LeverThe hon. Gentleman and his colleagues have come rather belatedly to the wrong conclusion, that post-war credits amount to a forced loan. This is to over-simplify, and no change in the present arrangements will be justified in our economic situation.