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Bank Charges

Volume 972: debated on Thursday 25 October 1979

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asked the Chancellor of the Exchequer what market controls affect bank charges and the spread between the lending and borrowing rates of the clearing banks; and if he is satisfied that these controls are sufficient to prevent the effective operation of a monopoly.

The clearing banks compete not only with each other, but with other banks, both British and foreign-owned, in the domestic and international markets.The Government believe that free competition is in general of greater benefit to consumers than direct controls.