Municipal Loans (Conversion)

Part of Oral Answers to Questions — National Finance. – in the House of Commons at on 30 January 1940.

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Photo of Mr Frederick Pethick-Lawrence Mr Frederick Pethick-Lawrence , Edinburgh East

Is the right hon. Gentleman not aware that he, himself, is making a conversion without any call on the capital market, and if local authorities take a similar course does that in any way affect the Government's credit?