HC Deb 08 February 1974 vol 868 cc474-5W
Mr. Shore

asked the Chancellor of the Exchequer in how many months between October 1964 and June 1970 the bank minimum lending rate was above 8 per cent.; and in how many months since.

Mr. Nott

Minimum lending rate was introduced in October 1972 and has no direct relationship with any rate existing before then. It has been above 8 per cent. in 14 months since it was introduced, including the present month.

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