HC Deb 05 April 1922 vol 152 cc2223-4
38. Mr. THOMSON

asked the Minister of Health if he will give full particulars of the lengths of the various periods for which the money has been actually borrowed without any break clause by the Public Works Loan Commissioners for the loans they have made to local authorities for housing, amounting to, approximately, £74,000,000 for repayment over periods varying from 20 to 80 years?

Mr. YOUNG

The money lent by the Public Works Loan Commissioners is raised in accordance with the National Debt and Local Loans Act, 1887, by the issue of perpetual Local Loans Stock.

Mr. THOMSON

For what length of period are these loans raised?

Mr. YOUNG

Local Loans Stock is perpetual.

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