§ Mr. LANSBURYasked the Chancellor of the Exchequer whether he is aware that boards of guardians and other local authorities obtaining loans from bankers are usually charged a rate slightly above the bank rate, varying from a quarter to 1 per cent., and that many business firms, especially small business firms, are in the same position; and whether, in view of the burden that the rise of 1 per cent. in the bank rate will impose on local authorities and business people, he proposes to make representations to the bank authorities on the subject?
2646W
§ Mr. CHURCHILLThe answer to the first part of the question is in the affirmative. There are, however, many other factors to be taken into consideration, as indicated in my reply to the hon. Member for Finsbury (Mr. Gillett) on the 12th March, of which I am sending the hon. Member a copy, and the answer to the latter part of the question is in the negative.