§ 6. Mr. Rostasked the Chancellor of the Exchequer what proposals he has to monitor bureaux de change to ensure that their trading practices comply with the conditions set by the Bank of England.
§ Mr. Denzil DaviesAs my right hon. Friend the Financial Secretary told the hon. Member in reply to a question on 20th April, exchange control officials make spot checks on bureaux de change as resources allow. I am not proposing any further action at the present time.
§ Mr. RostIf spot checks are being made, why has no action been taken against some of the abuses of some bureaux de change, which are charging tourists high rates of commission and giving them unfavourable rates of exchange? Have not the Government yet appreciated that this can be damaging to the good will and reputation of this country as a fair trading nation in the eyes of the millions of tourists who are being abused in this way?
§ Mr. DaviesI agree that these rates and charges must be reasonable. In fact, the checks regularly carried out by the Bank of England show that in most cases charges are not unreasonable, when we bear in mind that the service offered is outside banking hours and at weekends. If any cases of unreasonable charging are 1731 discovered, the Bank of England will bring it to the attention of the bureaux concerned.
§ Mr. SkinnerWill the Minister have a word with the Department of the Environment? I recently visited two of these bureaux across the road in Bridge Street and discovered that their offices are leased out by the Government.
§ Mr. DaviesI appreciate that the Department of the Environment and the Property Services Agency have granted these leases, but the main point is that the Bank of England is now regularly monitoring bureaux. If there are any cases of overcharging, they will be examined.
§ Mr. RostIn view of the unsatisfactory and complacent nature of the reply, I beg to give notice that I shall seek to raise the matter on the Adjournment at the earliest possible opportunity.