§ Mr. Gwilym Robertsasked the Chancellor of the Exchequer, in view of continuing high interest rates, if he will seek to negotiate an arrangement to make a loan at nominal interest rates to the building societies in order to reduce mortgage interest rates.
§ Mr. LawsonNo. The Government recognise that the present high interest rates are causing hardship to some borrowers, but home owners cannot be totally insulated from the general level of interest rates in the economy without jeopardising the success of our counter-inflation policy.