Minimum Lending Rate

HC Deb 29 January 1981 vol 997 cc497-8W

4. Mr. Trippier

asked the Chancellor of the Exchequer what recent representation he has had concerning the need to lower the minimum lending rate.

Mr. Lawson

We have received a considerable number of representations from companies and individuals about the level of MLR, although the flow of such representations has dropped significantly since we reduced MLR by two percentage points last November.

24. Mr. Latham

asked the Chancellor of the Exchequer whether he will make a statement on the current level of minimum lending rate.

Mr. Lawson

Minimum lending rate was reduced by 2 per cent. in November, to 14 per cent. Further reductions in interest rates will occur as and when conditions permit.