§ Mr. Arthur Lewisasked the First Secretary of State and Secretary of State for Economic Affairs whether he is aware that certain trades unions, banks, local authorities, public and private companies allow to some of their employees special facilities of money on loan at nominal and low rates of interest for 409W the purposes of purchasing houses and cars; and, as this is contrary to the Government's policy on wages, prices and dividends and the credit squeeze, what action he proposes to take to prevent this.
§ Mr. AlbuYes. We are aware of the practice, in some cases of many years' standing. But we have no evidence that it has recently become more widespread or that it is likely to be used as a means of avoiding the standstill obligation on employers and employees set out in the White Paper (Cmnd. 3073). If my hon. Friend has knowledge of any such cases we should be obliged if he would bring them to our attention.