Interest Rates

Part of Oral Answers to Questions — Local Government – in the House of Commons at 12:00 am on 1st May 1962.

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Photo of Mr Arthur Lewis Mr Arthur Lewis , West Ham North 12:00 am, 1st May 1962

Is not the right hon. Gentleman aware that in his Budget speech the Chancellor of the Exchequer said that the economy had not been on an even keel, and that over the last few months and years we have had one economic crisis after another? The Government have admitted that, and yet we have these high interest rates which they introduced. Can the right hon. Gentleman say how it is that with these high interest rates we have an economic crisis, which does not match up with what he just said?