Bank Rate

Part of the debate – in the House of Commons at 12:00 am on 14th July 1966.

Alert me about debates like this

Photo of Mr Jock Bruce-Gardyne Mr Jock Bruce-Gardyne , South Angus 12:00 am, 14th July 1966

I accept that, Sir. I was seeking to show that it was urgent because these borrowings by the Bank of England, during the last few days, have indicated the extreme severity and urgency of the economic crisis which the nation is facing.

I suggest that the measures announced today indicate that the point of national insolvency may not be very far off; and I cannot imagine a matter of greater urgency than that. Yet the Government propose as measures to deal with this situation only such irrelevancies as the Bill that we shall be discussing this afternoon and the nationalisation of steel.

For all these reasons, I hope that you will see fit to grant me permission to move the Adjournment of the House tinder Standing Order No. 9.