§ 58. Mr. SUGDENasked the Chancellor of the Exchequer if he will summon a conference of representatives of the cities, municipal boroughs, and county councils of Great Britain to consider how they can organise their respective loans and credit balances, that the present high prices of such loans may be reduced and economy produced also in national loan prices?
Mr. CHAMBERLAINI fear that it is unlikely, in view of the demand for capital for industrial purposes, that any reduction in the rates of interest paid by local authorities for new borrowings can be anticipated for some time to come. I will consider the hon. Member's suggestion in conjunction with my right hon. Friend the President of the Local Government Board and the Secretary for Scotland.