HC Deb 26 April 1910 vol 17 cc231-2
Mr. MUSPRATT

asked the President of the Local Government Board at what rate per cent, the Corporation of Liverpool has borrowed money during the last twelve months?

The PARLIAMENTARY SECRETARY to the LOCAL GOVERNMENT BOARD (Mr. Herbert Lewis)

During the twelve months ended 31st March, 1910, the Corporation of Liverpool have borrowed money on the following terms:—Loans on Mortgage: Loans on mortgage for fixed periods of three, five, or seven years at interest at the rate of 3¼ per cent, per annum. This rate was in operation until December, 1909, on which date the rate of interest was increased to 3½ per cent, per annum. For the renewal of existing loans falling due for repayment, the rate of interest was £3 7s. 6d. for fixed periods of three, five, or seven years until December, 1909, when the terms of renewal were also increased to 3½ per cent, per annum. Corporation Bills: During the period under review two issues of Liverpool Corporation Bills were made, each of £500,000. The average rate of discount for the issue in August last was £2 5s. 9d. per cent., and that for the issue in February last was £2 6s. 3d.

Mr. MUSPRATT

May I ask if those low rates were not satisfactory to the ratepayers, and whether they are not appreciably—

Mr. SPEAKER

The Local Government Board cannot possibly know what is in the minds of the ratepayers.