§ 60. Mr. ROYDSasked the President of the Local Government Board in view of the fact that 95 to 97 per cent. of the population of this country are housed by individual enterprise and that recent legislation to encourage the erection of cottages and working-class dwellings by municipal and local authorities has resulted in the erection of a few thousand of such cottages and dwellings only, he will, in view of the urgency of the housing problem, introduce legislation to extend to individual owners and societies the same facilities for borrowing public moneys as are enjoyed by municipal and local authorities?
§ The PRESIDENT of the LOCAL GOVERNMENT BOARD (Mr. Burns)As the hon. Member is aware. there are facilities under the existing law for lending money for housing purposes to individual owners and societies. In an answer given by my right hon. Friend the Secretary to the Treasury on the 25th March last, it was explained that loans amounting to nearly 1¼ millions had been granted by the Public Works Loan Commissioners during the preceding two years for housing purposes, of which more than half was granted to societies, companies, and individuals. It must be remembered that while local authorities are able to offer the rates of their districts as security for a loan, private borrowers are not in that position. This fact in itself prevents the latter from being put on the same footing as local authorities in the matter of financial facilities.
§ Mr. ROYDSIs not the right hon. Gentleman aware that the present system of giving preferential treatment to local authorities discourages private enterprise?
§ Mr. BURNSThat view is held by some, and it is not held by others. If the hon. Gentleman shares that view I shall be 1873 pleased to transmit a communication on any suggestion he may make to the Treasury or the Public Works Loan Commissioners.