HC Deb 27 November 1967 vol 755 cc24-5W
Mr. MacArthur

asked the Chancellor of the Exchequer what estimate he has made of the increased credit costs to agriculture in Scotland following the increase in Bank Rate.

Mr. Buchanan-Smith

asked the Chancellor of the Exchequer what estimate he has made of the increased cost in a full year to industry, to agriculture and to fishing in Scotland, of the increase in Bank Rate to 8 per cent.

Mr. Harold Lever

In so far as these industries borrow from the Scottish banks, the increase in overdraft charges may run at about £200,000 gross a month for manufacturing industry and about £100,000 gross a month for agriculture, forestry and fishing, for so long as Bank Rate stays at 8 per cent. It is not possible to estimate a separate figure for agriculture alone.

Mrs. Ewing

asked the Chancellor of the Exchequer if he will take steps to introduce a special Bank Rate for Scotland, in view of Scotland's export record.

Mr. Harold Lever

No.