§ Mr. Wilmotasked the Chancellor of the Exchequer what exact powers he has taken under the emergency legislation to require the Bank of England to change 1903W the bank rate; and whether he is satisfied that such powers are sufficient in view of the fact that the London clearing banks have decided not to reduce their call-money rate unless the bank rate is reduced, with the consequent heavy charge for high Treasury Bills rates?
§ Sir J. SimonThe Government have taken no such powers as those referred to in the first part of the Question, and the second part therefore does not arise.