Moneylending Advertisements.

Oral Answers to Questions — National Finance. – in the House of Commons on 17th July 1941.

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Photo of Mr John Tinker Mr John Tinker , Leigh

asked the Chancellor of the Exchequer whether his attention has been drawn to the advertisements now appearing in many newspapers of offers of loans of money up to £10,000, and, as this is having a detrimental effect on savings being invested with the Government, and as doubt is being caused, will he make a statement on this matter?

Photo of Sir Kingsley Wood Sir Kingsley Wood , Woolwich West

I have seen no evidence that the advertisements to which my hon. Friend refers are affecting the success of the War Savings Campaign.

Photo of Mr John Tinker Mr John Tinker , Leigh

Does the right hon. Gentleman think it to the public good that these advertisements should appear?

Photo of Sir Kingsley Wood Sir Kingsley Wood , Woolwich West

I have not any evidence to the effect the hon. Member suggests. In fact, there does not appear to be any noticeable activity on the part of moneylenders just now.

Photo of Mr Irving Albery Mr Irving Albery , Gravesend

Is it not a fact that some of the persons who have to borrow money to-day are borrowing it to pay their taxes?