Mr. Edward M. Taylorasked the Chancellor of the Exchequer if he has received from the National Board for Prices and Incomes the report on bank charges and associated matters; and if he will make a statement.
§ Mr. CallaghanMy right hon. Friend the First Secretary of State and I have received the report and welcome it. It provides valuable information not hitherto published on the total profits of the London Clearing banks and the Scottish banks, and on their costs and profit margins. I am studying the important proposals put forward for changing many of the existing practices of the banks in relation to the rates and charges and other matters, and for ending the system of recommended rates for Building Societies, and shall discuss them with those concerned.