§ Sir Anthony Meyerasked the Chancellor of the Exchequer (1) what is the estimated saving to industry in Wales of the reduction of 2 per cent. in the minimum lending rate;
(2) what is the estimated savings to agriculture in Wales of the reduction of 2 per cent. in the minimum lending rate.
§ Mr. LawsonLower interest rates will certainly benefit industry and agriculture in Wales, though it is not possible to quantify the exact savings for particular geographical areas or particular industries. The CBI has estimated that a 2 per cent. reduction in interests rates is worth aroung £700 million off companies annual interest charges on bank borrowing.