§ Mr. Sedgemore
asked the Chancellor of the Exchequer if there has been any change in short-term interest rates since the building societies last put up mortgage interest rates.
§ Mr. Dell
The rates recommended by the Council of the Building Societies Association were last increased in September 1973. Since that time short-term interest rates have fluctuated, generally rising to a peak at the end of 1973 and the beginning of 1974 and subsequently declining. Most rates are now slightly lower than in September 1973. I would refer my hon. Friend to Table 112 of the December issue of Her Majesty's Stationery Office publication "Financial Statistics", which shows the changes for a range of short-term rates for the period up to the end of November 1974.