§ 61. Mr. SUGDENasked the Chancellor of the Exchequer if he will consider the necessity of issuing instructions to municipal and local governing councils that, whilst paying interest on local loans, if capital assets are properly and efficiently in over-proportion to liabilities and show a large surplus, such municipal and local governing councils be allowed to adjust to longer periods the payments to sinking funds, thus relieving heavy and sometimes oppressive local rates?
§ Mr. PARKER (for Sir Alfred Mond)The payments to the Sinking Funds are determined by the Statute or other authority for the raising of the loan, and cannot be varied by the issue of instructions as suggested.