HC Deb 20 September 1939 vol 351 cc959-60W
Commander Locker-Lampson

asked the Chancellor of the Exchequer whether he will appoint a committee of financial experts drawn from this House to consider the imposition of a moratorium as in the last war?

Sir J. Simon

Much of the emergency legislation which Parliament has already passed, such as the Courts (Emergency Powers) Act and the Rent and Mortgage Interest Restrictions Act, and many of the administrative arrangements like those for advances on bills discounted on the London market, were expressly designed to obviate the need for any general moratorium and I think that the object can be said to have been achieved. In the circumstances a general moratorium would subject the country to much disturbance which it is very desirable to avoid.