asked the Chancellor of the Exchequer whether the proposal made by the Bank of England in 1947 to the Committee of Joint Stock Bankers and the Committee of Acceptance Houses that the credits given to hire purchase companies should be used only for the financing of industrial plant and equipment still represents the policy of His Majesty's Government.

Yes. The proposal was, in accordance with my request, that finance for hire purchase facilities, particularly of consumer goods, should not be increased. That request still represents the policy of His Majesty's Government.