§ Captain Pilkingtonasked the Chancellor of the Exchequer whether he is satisfied that the purchase by financial institutions of freehold properties and the subsequent leasing of such properties to the vendors is in accordance with his present policy of credit restriction; and if he will make a statement.
§ Mr. H. MacmillanI think that transactions of the nature described tend to weaken the effectiveness of present restrictions on credit for capital expenditures and therefore may work against the general objectives which I outlined in the House of Commons on 17th February. It would certainly be helpful if, in present circumstances, financial institutions would examine with special care any facilities which appear to be connected with such deals.