HC Deb 15 June 1971 vol 819 c44W
30. Mr. Rankin

asked the Chancellor of the Exchequer why he has refused to approve the personal loan scheme of the Trustee Savings Bank approved by the National Debt Office, in view of the fact that the United Kingdom is the only developed nation whose savings banks cannot lend money to their customers.

Mr. Higgins

Such a scheme would have important implications for the future development of the Trustee Savings Banks and for their relationships with the Government and with the banking world. Since these are amongst the matters which the National Savings Review Committee will examine, it is better that a decision on the personal loans scheme should await the review.