HC Deb 14 December 1939 vol 355 cc1312-3W
Mr. Stokes

asked the Chancellor of the Exchequer whether he is aware that the London clearing banks are to-day charging 1 per cent. to the discount market for loans against the deposit of bills as compared with ½ per cent. before the war when the bank rate was 2 per cent.; and whether, in view of the fact that this increased charge has put up the Treasury bill discount rate above 1 per cent. as compared with ¾per cent. before the war, he will state what steps he proposes to take to obtain a return to the lower rate by the London clearing banks?

Sir J. Simon

I would refer the hon. Member to the reply on this subject which I gave on the 12th December to the right hon. Gentleman the Member for East Edinburgh (Mr. Pethick-Lawrence).

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