§ Mr. Stokesasked the Chancellor of the Exchequer whether he is aware that the London clearing banks are to-day charging 1 per cent. to the discount 1313W market for loans against the deposit of bills as compared with ½ per cent. before the war when the bank rate was 2 per cent.; and whether, in view of the fact that this increased charge has put up the Treasury bill discount rate above 1 per cent. as compared with ¾per cent. before the war, he will state what steps he proposes to take to obtain a return to the lower rate by the London clearing banks?
§ Sir J. SimonI would refer the hon. Member to the reply on this subject which I gave on the 12th December to the right hon. Gentleman the Member for East Edinburgh (Mr. Pethick-Lawrence).