Air Commodore Harvey
asked the President of the Board of Trade whether any decision has yet been taken on the application made to him on behalf of the car hire firms with substantial dollar earnings, for some relaxation in the restrictions on the hire purchase of motor cars.
§ Mr. H. Strauss
Yes. In view of the importance of the tourist trade as an earner of dollars, my right hon. Friend is willing to consider applications for licences from car hire firms doing substantial business in dollars, to permit a lower initial payment and a longer period for the payment of the balance than the Hire Purchase and Credit Sale Agreements (Control) Order, 1952, prescribes.
Licences will normally be granted only to those car hire firms who can show that not less than 20 per cent. of their turnover is earned in dollars. Applications for licences should be made to the Board of Trade.