§ 23. Dr. Gilbertasked the Chancellor of the Exchequer what estimate he has made of the increase in credit availability that will result from the contemplated introduction by a bank, the name of which has been supplied to him, of £100 cheque-cashing facilities for holders of a particular bank card.
§ Mr. HigginsNone, Sir.
§ Dr. GilbertIs not this new arrangement just announced by Barclaycard a way for the banks to escape the controls over private lending? Will the Minister of State consider whether to bring these schemes under control or, if not, to scrap the whole system of controls over lending, which is so discriminatory and also riddled with loopholes?
§ Mr. HigginsI would not myself go in for commercials. I would merely state that I do not believe that there is any such effect, because the individual credit ceilings are not being automatically increased and because this lending has to be accommodated within the banks' restricted lending limits.