Banks (Credit Facilities)

HC Deb 14 July 1950 vol 477 c135W

Mr. Wakefield

asked the Chancellor of the Exchequer what restrictions he places on banks in respect to loans for speculative purposes.

Sir S. Cripps

In accordance with the requests which the Bank of England have addressed to them on my behalf, the banks have given valuable help in adapting the policies governing the granting of credit facilities, in order to conform with the general disinflationary policy of the Government. In particular, they have been asked, among other things, to grant no facilities for speculative purposes.