§ 25. Mr. Maddenasked the Secretary of State for Prices and Consumer Protection when he next intends to meet the Chairman of the Building Societies Association.
§ The Minister of State, Department of Prices and Consumer Protection (Mr. John Fraser)At present neither my right hon. Friend nor I have any arrangement to meet the Chairman of the Building Societies Association.
§ Mr. MaddenWhat progress is being made in discussions between the Director General of Fair Trading and the building societies about the introduction of a 1259 scheme for combined valuation inspections and structural surveys? Does my hon. Friend agree that the introduction of such a scheme would be an added protection to would-be house purchasers?
§ Mr. FraserThese discussions are continuing. No conclusion has been reached. There could be some value in making building society surveys available to the prospective purchaser. This is also being looked at by the National Consumer Council.
§ Mr. Geoffrey FinsbergWhen the Minister next meets the building societies, may I ask him to remind them that, in addition to being lenders of money, they also receive money from vast numbers of our constituents and that these depositors deserve careful consideration and ought not to be subjected to wild ideas aimed at getting rid of all the caution which building societies now exercise when investing other people's money?
§ Mr. FraserThe hon. Gentleman ought to specify the incautious activities he has in mind before I comment further.