Barclays, Lloyds and Martins Banks (Merger)

Part of the debate – in the House of Commons at 12:00 am on 25th July 1968.

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Photo of Mr Alistair Macdonald Mr Alistair Macdonald , Chislehurst 12:00 am, 25th July 1968

Is my right hon. Friend aware that his announcement will be received with incredulous astonishment and dismay? Does he regard with equanimity the way in which the banks follow one another in opening branches simply because another bank has opened a branch in a particular area, giving the appearance of spurious competition? Does he pay no regard to the potential savings which could have been effected by this merger?