§ Sir William Clarkasked the Chancellor of the Exchequer when the official rate of interest under section 66 of and schedule 8 to the Finance Act 1976 will be changed.
§ Mr. Peter ReesThe rate is based broadly upon the rate of interest which a credit-worthy borrower would ordinarily have to pay on a bank overdraft. It is kept regularly under review in the light of changes in interest rates, but there are not at present any plans to alter it.