§ Mr. Lubbockasked the Chancellor of the Exchequer what financial benefit local authorities will obtain in the year 1965–66 from the increased borrowing limit of £100,000 applicable to Public Works Loan Board loans.
§ Mr. CallaghanThe extent of the benefit will depend to some extent on what percentage access to the Public Works Loan Board is allowed next year; but it will probably enable authorities to borrow an extra £30 million at advantageous rates.