§ SIR FREDERICK BANBURY (Camberwell, Peckham)I beg to ask Mr. Chancellor of the Exchequer if he will consider the advisability of placing a limit upon the borrowing powers of municipalities.
§ MR. GERALD BALFOURThe Chancellor of the Exchequer has asked me to reply to this Question. I am 461 afraid that I could not undertake to propose legislation with the object which my hon. friend has in view; but I may mention that the greater part of the loans raised under the general law by the councils of municipal boroughs and urban and rural districts are raised under the Public Health Acts, and that these Acts place a limit on the borrowing powers which they confer on local authorities.