Orders of the Day — Customs (Import Deposits) Bill

Part of the debate – in the House of Commons at 12:00 am on 17th November 1969.

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Photo of Mr Thomas Price Mr Thomas Price , Westhoughton 12:00 am, 17th November 1969

The hon. Gentleman, in his usual way, is being quite fair in his critical argument, and I am not complaining about that. But when he makes simple comparisons, saying that we would be in trouble with the banker if we were still under a heavy liability of £3,000, he forgets that the banker would also want to know whether we were servicing the original debts, and had any assets as a result of those loans being advanced. It is not quite fair to put it like that. Every major British employer of labour, every industrialist, is running into enormous debts to finance work in progress. So long as he finances those debts by paying the interest on them he is not in any trouble with his banker.