Oral Answers to Questions — Stock Exchange (Interest Charges).

– in the House of Commons on 10th May 1922.

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Photo of Mr James Kiley Mr James Kiley , Stepney Whitechapel and St George's

90.

asked the Chancellor of the Exchequer whether he is aware that the Stock Exchange Committee are allowing their members to charge the public on pre-War carry-over 9 per cent, interest, notwithstanding the reduction of the deposit rate to 2½ per cent.; and that the committee promised the Government in 1914 that members of the Stock Exchange would hand on to their clients any advantage that a reduced rate of interest by the joint stock banks might give them, and whether the Government intend to take any action in this matter?

Mr. YOUNG:

This is a matter for the Committee of the Stock Exchange, in which I do not propose to intervene.