§ Mr. Hendersonasked the Chancellor of the Exchequer if he will make a statement on the special advances limit for building societies.
§ Mr. Bruce-GardyneThe Building Societies Association has made representations that the special advances limit for building societies be raised to £60,000. The Chief Registrar of Friendly Societies is satisfied that there is no objection on prudential grounds to such an increase. The association has also been able to reassure the Government that there is no intention on the part of any society to reduce its lending at the lower end of the housing market. The Government propose, therefore, to lay draft orders before both Houses seeking to increase the special advances limit from £37,500 to £60,000. It is intended that the increased level will continue in force for several years.
§ Mr. Weetchasked the Chancellor of the Exchequer on how many occasions in 1981 his Department consulted the records at Companies House in connection with the stated details of corporate advances contained in AR11 return by building societies.
§ Mr. Bruce-GardyneInformation is not available to give a full reply. Twenty-six micro fiches were obtained by the registry from Companies House, but not all will have been in respect of the scrutiny of building society returns. No statistics are available in respect of other inquiries of Companies House following up points on annual returns.