§ 30. Major KELLEYasked the Minister of Health if he can estimate what will be the probable annual charge to the State under the guarantee to pay all loss above the produce of a penny rate on houses already authorised by his Department under the Housing Act?
§ Sir A. MONDIt is estimated that the annual charge on the Exchequer under the Housing Acts in respect of houses already contracted for by local authorities will amount to £10,000,000. So far, however, as the money for housing has been raised by short term loans the annual charge will be reduced as the price of money falls and it becomes possible for local authorities to replace these loans by others obtained on more favourable terms.
Sir F. HALLDo the Government not recognise that £13,000,000 represents one-seventh practically of the whole Budget raised in pre-War days?
§ Sir W. DAVISONDo I understand from the right hon. Gentleman's answer that the Board are still engaged on the approval of schemes?
§ Sir A. MONDI have been speaking of houses already contracted for?
§ Sir W. DAVISONAre no more schemes being considered by the Board now?
§ Sir A. MONDI will not go quite so far as to say that. There may be exceptional cases, but I am cutting down schemes wherever I can.