§ 9. Mr. Ashtonasked the Chancellor of the Exchequer what was the Bank rate in October 1974 and how this compared with the then interest rates of building societies at that date; and what is the current bank rate.
§ Mr. DellIn October 1974 the Bank of England's minimum lending rate was 11½ per cent.; it is now 9½ per cent. The Building Societies Association recommended rates of interest on new mortgages in October 1974 was 11 per cent.