HC Deb 29 June 1910 vol 18 cc928-9
Sir J. D. REES

asked the President of the Local Government Board whether the Government proposed to introduce legislation this Session restricting the borrowing powers of local bodies?

Mr. BURNS

I am not proposing to introduce legislation with the object in question.

Mr. GIBSON BOWLES

Is he aware that the aggregate debt of the local authorities of the United Kingdom is very nearly equal to the Funded National Debt?

Mr. BURNS

I am aware of the fact, but there are assets to which I would direct the attention of the hon. Member.

Mr. GIBSON BOWLES

Is the right hon. Gentleman aware that there are also assets against the National Debt?

Mr. BURNS

I should be very pleased if in a comparative sense the hon. Member would inform me what they are.

Mr. GIBSON BOWLES

The British Empire.