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Hire-Purchase Restrictions

Oral Answers to Questions — Trade and Commerce – in the House of Commons at 12:00 am on 9th May 1957.

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Photo of Mr John Cronin Mr John Cronin , Loughborough 12:00 am, 9th May 1957

asked the President of the Board of Trade if he is aware of the recession of production in the coach and omnibus building industry as a consequence of present hire-purchase restrictions; and if he will therefore make appropriate relaxations of these restrictions.

Photo of Mr David Eccles Mr David Eccles , Chippenham

I would refer the hon. Member to the reply which I gave to my hon. Friend the Member for Blackley (Mr. E. Johnson) on 2nd May.

Photo of Mr John Cronin Mr John Cronin , Loughborough

Is the right hon. Gentleman aware that the coach and omnibus building industry is the subject of quite unfair discrimination at present compared with the rest of industry? Bearing in mind the unsatisfactory nature of his previous reply, will he reconsider the matter?

Photo of Mr David Eccles Mr David Eccles , Chippenham

In his Budget speech, my right hon. Friend the Chancellor said that credit restrictions were still necessary, and I see nothing to alter that view. In point of fact, trade is picking up.