Orders of the Day — Building Societies (Interest Rates)

Part of the debate – in the House of Commons at 12:00 am on 9 April 1973.

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Photo of Mr Anthony Crosland Mr Anthony Crosland , Grimsby 12:00, 9 April 1973

The right hon. and learned Gentleman is right to say that I made that statement and used the phrase "bridging loan". I had then assumed wrongly—I had not read the full text— that it was a loan, and was therefore an approach to a stabilisation fund. I agree that, in that the £15 million is a grant, that comment is not applicable.