Mr. De la Bère
asked the Chancellor of the Exchequer whether he will convene a 822W conference of bankers for the purpose of discussing with them an extension of the scheme by which the banks have reduced the interest rate on deposit to encourage subscriptions to National War Bonds, which now only relates to deposits taken on special terms, so as to make a deposit rate of 10s. per cent. extend to all deposits, with a view to enabling the banks to offset the lesser amount they would have to pay out by way of interest by reducing the rate of interest to agricultural borrowers and Government contractors and sub-contractors for armament work from 5 per cent. to 3 per cent.?
§ Sir K. Wood
No, Sir. I would refer my hon. Friend to the statement of the Financial Secretary on 6th August last.