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Mr. Wakefield
asked the Chancellor of the Exchequer what restrictions he places on banks in respect to loans for speculative purposes.
Sir S. Cripps
In accordance with the requests which the Bank of England have addressed to them on my behalf, the banks have given valuable help in adapting the policies governing the granting of credit facilities, in order to conform with the general disinflationary policy of the Government. In particular, they have been asked, among other things, to grant no facilities for speculative purposes.