§ Mr. Arthur Lewisasked the Chancellor of the Exchequer to what extent the directions by his Department to banks on the limitation of credit, loans and overdrafts apply to firms desiring to raise capital to finance take-over bids; and whether he will take steps to ensure that his Department examines all such proposals before final approval for credit, loan or overdraft terms can be sanctioned by the banks.
§ Mr. DiamondThere is no specific reference to credit for this purpose in the guidance provided by the Bank of England, but I have no reason to think that any action by the banks in this field has conflicted with the overall ceiling, or with the need to meet priorities within it.