§ 63. Mr. EMLYN-JONES
asked the Minister of Health whether, in view of the fact that local authorities are able to obtain loans for housing purposes at 4¾ per cent. or less, and that the present rate at which they are authorised to intending borrowers under the Small Dwellings Acquisition Acts, namely, 5½ per cent., tends to limit the number of possible house purchasers under the Act, he will issue an order permitting loans to be granted at 5 per cent.?
The present general rate is 5½ per cent., but lower rates have been fixed in special cases, and I am prepared to consider any case where the local authority are of opinion that 5 per cent. is an adequate rate for their area.