Is my right hon. Friend aware that there are some companies charging very exorbitant rates of interest, taking advantage of the current situation, and that this is having a particularly harmful effect on small companies which, by the very nature of things, are predominant in development areas where they seek to take advantage of Government incentives? Will my right hon. Friend reconsider his answer?
No, Sir. My hon. Friend asks me in the Question whether an investigation will be helpful. I do not think that it would be. My hon. Friend is quoting cases of which he is aware without investigation and which reflect to a certain extent the market rates.
If the right hon. Gentleman carried out an investigation, he might find it enlightening. A great many firms, even some in development areas, which have to import materials, frequently for re-export, are now faced with the financing of import deposits and are having to face this extraordinarily high rate which they never expected to pay for the current year.