§ Mr. Colvin
asked the Chancellor of the Exchequer if he will make it his practice to have periodic discussions with the Building Societies Association about possible movements in mortgage interest rates.
§ Mr. Bruce-Gardyne
My right hon. and learned Friend the Chancellor of the Exchequer has periodic meetings with representatives of the Building Societies Association about matters of common concern including interest rates. It is however for societies and the association to decide their own interest rates in the light of market developments.