§ Mr. Osborneasked the President of the Board of Trade if he is aware that certain hire-purchase finance companies are paying as high as 40 per cent. of their charges to motor dealers for introducing the business thus putting up unnecessarily the cost of this type of business; and if he will appoint a committee to investigate and to recommend how such abuses can be remedied, by legislation or otherwise.
§ Mr. ErrollI am aware that there has recently been an increase in the level of commission, in some cases to the figure quoted by my hon. Friend, but I am not aware that this had led to any general increase in hire-purchase charges. We do not consider that a Government Committee is called for, and we advise prospective hirers to study their agreements before signing them in order to see what they are being charged for credit.