Part of Orders of the Day — Finance Bill – in the House of Commons am 12:00 am ar 17 Gorffennaf 1974.
Would the hon. Member not agree that the £10,000 million the Chief Secretary quoted was an important figure in that it is a gross figure and excludes bank borrowing? If we are to have any realistic assessment of company liquidity we ought to take into account bank borrowings. Although the Chancellor may argue that such borrowings will not be called in immediately, it is highly unlikely that at the present high rates of interest anyone will be able to finance investment or to maintain employment and production in this way.