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Hire-Purchase (Bank Advances)

Volume 464: debated on Friday 29 April 1949

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asked the Chancellor of the Exchequer when and why he directed the Bank of England to ask the banks to limit their advances to finance houses in order to restrict the provision of hire-purchase facilities on radio receivers and other goods.

In 1947 the banks were asked not to increase the facilities which they offered for financing hire-purchase particularly of consumer goods. This restriction continues to form an integral part of the campaign against inflation.