61. Major GREAMEasked the Lord Privy Seal whether, with a view to enabling local authorities to raise money for housing purposes at a reasonable rate of interest, he would consider the desirability of allocating the amount raised by a continuing issue of Premium Bonds as loans to local authorities for housing purposes?
§ Mr. BALDWINAs the hon. and gallant Member is aware, the whole question of a Premium Bond issue will shortly be discussed in this House. Pending such discussion, it is premature to consider whether the proceeds of such an issue, if made, should be used for further capital expenditure rather than for the funding of existing Exchequer liabilities.
Major GREAMEBefore a decision is given can we have an undertaking that the Treasury will go into this proposition with the Minister of Health, who is in great trouble over his finance?
§ Mr. BALDWINI have no doubt that if such proposals were made they would be one of the problems which the Chancellor of the Exchequer would have to consider.