§ 57. Mr. Alec Jonesasked the Chancellor of the Exchequer whether he will arrange to allow the banks to apply less restrictive criteria in pressing for reductions in loans made to manufacturing firms in the development areas.
§ Mr. Roy JenkinsThe banks have been asked, in carrying out the authorities' requests on lending, to have regard to the Government's policies on regional development.
§ 59. Mr. Biffenasked the Chancellor of the Exchequer what discussions he has had with the chairmen of the joint stock banks concerning the implementation 66W of the Government's policy of controlling credit.
§ Mr. Roy JenkinsI am regularly in touch with the banks on these matters. I met representatives of certain London Clearing Banks and representatives of the Scottish banks on 26th February, and emphasised the important of maintaining a policy of severe credit restraint. The bankers emphasised the difficulties, but agreed to intensify their efforts to bring their restricted lending within the 98 per cent. ceiling.