HC Deb 25 October 1979 vol 972 c289W
Mr. Marlow

asked the Chancellor of the Exchequer what market controls affect bank charges and the spread between the lending and borrowing rates of the clearing banks; and if he is satisfied that these controls are sufficient to prevent the effective operation of a monopoly.

Mr. Lawson

The clearing banks compete not only with each other, but with other banks, both British and foreign-owned, in the domestic and international markets.

The Government believe that free competition is in general of greater benefit to consumers than direct controls.