§ Mr. Anthony Grantasked the Chancellor of the Exchequer if he will set out in the Official Report the changes in the minimum lending rate during the time he has been in office.
§ Mr. Denzil DaviesThe information is as follows:
644W
Date change announced New MLR established (Per cent.) 1974— 5th April 12¼ 11th April 12 24th May 11¾ 20th September 11½ 1975— 17th January 11¼ 24th January 11 7th February 10¾ 14th February 10½ 7th March 10¼ 21st March 10 18th April 9¾ 2nd May 10 25th July 11 3rd October 12 14th November 11¾ 28th November 11½ 24th December 11¼ 1976— 2nd January 11 16th January 10¾ 23rd January 10½ 30th January 10 6th February 9½ 27th February 9¼ 5th March 9 23rd April 10½ 21st May 11½ 10th September 13 7th October 15 19th November 14¾ 17th December 14½ 24th December 14¼ 1977— 7th January 14 21st January 13¼ 28th January 12¼ 3rd February 12 10th March 11 18th March 10½ 31st March 9¼ 7th April 9¼ 15th April 9 22nd April 8¾ 29th April 8¼ 13th May 8 5th August 7½ 12th August 7 9th September 6½ 16th September 6 7th October 5½ 14th October 5 25th November 7 1978— 6th January 6½ 11th April 7½ 5th May 8¾ 12th May 9 8th June* 10 9th November 12½ Source: Bank of England Quarterly Bulletin. * Until 25th May 1978, MLR was normally linked by formula to the average rate of discount for Treasury bills established at the weekly tender. It has subsequently been set by administrative decision.