§ CAPTAIN CLIVEI beg to ask the Prime Minister whether, now that the Government have adopted a policy of encouraging local authorities to contract loans, he will reconsider a former declaration on the part of the Government and issue a loan for the completion of the works at Rosyth.
§ MR. ASQUITHHis Majesty's Government see no occasion for adopting the course proposed by the hon. and gallant Member.
§ CAPTAIN CLIVEWhy do the Government consider it sound finance to raise loans for the making of ornamental ponds and for similar purposes, and unsound finance to raise loans for the construction of naval works?
§ MR. ASQUITHThe hon. Member is very imperfectly acquainted with the facts. The policy of the Government is to complete the works at Rosyth at the earliest practicable moment. Once the contract is let the payment of the whole cost is guaranteed, the total having been sanctioned by Parliament; and there was no reason even for considering the question of dealing with the matter by loans.