§ Mr. Nicholas Winterton
asked the Chancellor of the Exchequer if he will seek to remove the advantages of building societies, life assurance companies and national savings in relation to the London clearing banks as noted in evidence to the Wilson Committee.
§ Mr. Denzil Davies
The fiscal and prudential regimes applied to the various classes of financial institution have been developed over time to meet particular objectives in the public interest. Taking these regimes as a whole, it is not easy to establish where the balance of advantage lies, nor whether any particular changes would have wholly beneficial economic effects. The Government will be looking to the Wilson Committee for its views on these questions. There are no immediate plans to alter the treatment of the savings media mentioned.