§ Mr. Arthur Lewis
asked the Chancellor of the Exchequer why he will not take steps to prevent banks and other financial institutions from sending appeals to the general public urging them to take out unrestricted credit, in view of the loss to the revenue involved and the inflationary effects of this practice.
§ Mr. Harold Lever
Advertising for new lending business is an integral element in competition among banks and financial institutions, and there is no need for me to seek to prevent it. The purposes of credit control are met by the restrictions placed upon the amount of lending and the guidance given on priorities in the direction of lending, which the institutions concerned continue to observe, as they have observed in the past.