§ 78. Rear-Admiral ADAIR
asked what has been the cost to the Treasury of the Rosyth Garden City in respect of rents during the four months between 1st April and 1st August this year; and whether this sum may be taken as a guide to the future annual cost to the country of this housing scheme?
§ Mr. PRATT
I have been asked to reply to this question. I am informed by the Scottish Board of Health that there has been no deficit to be met by them up to the present on the Rosyth housing scheme, and that the housing cost operations for the current year will now show a loss. This is due to the fact that houses begin to produce rent in less than a year from the date on which building is begun, while, interest on costing in terms of the Minute 1635 of Agreement with the Scottish National Housing Company is not charged to revenue until after one year from that date. It is estimated that in a normal year the company's annual deficit falling on the Board on the basis of schemes so far authorised will be from £16,000 to £17,000, exclusive of the further annual cost which will be entailed in consequence of the loan of from £800,000 to £900,000 of Government Funds at 3½ per cent.
§ Lieut.-Colonel BUCHANAN
Is the right hon. Gentleman aware that upwards of £1,000,000 was lent to the National Housing Company at 3 per cent., which was raised during the War to 5 per cent., and in any return will he include the difference between 3 per cent. and 5 per cent. incurred in connection with these loans?