§ 27. Mr. BRIDGEMANasked what has been the total amount received by the Road Board since its formation; how much of that amount has been promised in loans and grants; how much has been actually disbursed and how much remains in hand; and how much local authorities have had to spend as a condition of receiving assistance from the Board?
§ Mr. LLOYD GEORGEThe total amount received by the Road Board since its formation up to the 30th September last (including interest on investments and loans) was £2,580,778, and the balance in hand in cash and investments was £2,081,779. The amount granted was £804,172 of which £408,053 has been paid in respect of work done, and the amount advanced on loan was £71,460. The additional amount which the Board have indicated their willingness to advance towards works, the details of which are still under discussion with highway authorities, was £1,514,700. The expenditure of local authorities on works towards which grants have been paid is estimated at £136,000. This expenditure was not incurred under the terms of conditions contained in grants, but represents the difference between the total expenditure of the highway authorities on road improvements and the grants made by the Road Board on the applications of these authorities.