HC Deb 13 December 1967 vol 756 cc178-9W
Mr. Barnett

asked the Chancellor of the Exchequer if he will make a statement on the action he proposes to take to deal with the methods adopted by television rental and manufacturing companies to avoid the effects of legislation controlling the amount of deposits.

Mr. Roy Jenkins:

The recent notice on credit restriction sent by the Governor of the Bank of England to banks and certain other financial institutions included the following request:—

Personal loans, were related to the purchase of goods subject to hire-purchase terms control, should be on terms no easier than those permited by the Board of Trade for hire-purchase contracts.

The Government ask that the same restraint be exercised by all providers of finance for instalment purchases of such goods whether or not they have received a direct request from the Governor. This requirement extends in particular to check traders, manufacturers and dealers providing loans to consumers.