§ 8. Miss Fookesasked the Chancellor of the Exchequer if he will introduce legislation to encourage the growth of credit unions and to regulate their working.
§ Mr. Robert SheldonThere have been recent discussions between my Department and the credit union representative organisations. I hope to make the Government's views on legislation known shortly.
§ Miss FookesCan the right hon. Gentleman define "shortly"?
§ Mr. SheldonAs soon as possible. I understand the hon. Lady's interest in these matters and it is shared by my hon. Friend the Member for Farnworth (Mr. Roper) and myself. The ability of such credit unions to arrange loans among themselves at finer rates of interest than are generally available commercially is something to which we should be sympathetic. I shall be pressing ahead at the earliest possible moment, but I cannot give any more precise assurance on timing.