Oral Answers to Questions — Minimum Lending Rate

Part of the debate – in the House of Commons at 12:00 am on 5th March 1979.

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Photo of Mr Harold Lever Mr Harold Lever , Manchester Central 12:00 am, 5th March 1979

I hope that the hon. Member has not quoted me accurately. I made no such assertion about the extent of the borrowing requirement. The Government have made clear that they do not want the borrowing requirement to be inflated and that they intend to keep it firmly under control. The rate of interest that we have reached, in my opinion—since the hon. Gentleman asks for my opinion—does not derive from the size of the Government's borrowing requirement. It derives from a number of other factors too numerous to retail now.