§ 46. Mr. H. H. SPENCERasked the Prime Minister whether his attention has been drawn to the circulation in the country of the Minister of Health s calculations of the money that could be saved on house building if no interest were paid; and whether the paying of no interest on loans represents the policy of the Government?
§ Mr. CLYNESMy right hon. Friend was concerned to show how large a part of the annual cost of a house is absorbed by interest on loans and, therefore, that practically the whole of the proposed Exchequer subsidy is required to meet the increased charge due to the higher rates of interest now in force than were in force before the War.
§ Mr. SPENCERMay I have an answer to the second part of the question?
§ Mr. CLYNESThat, was, in fact, answered by the Minister of Health a day or two ago in reply to a supplementary. It is not the policy of the Government to advance loans without interest.
§ Mr. SPENCERMay we take it that these widespread figures which the right hon. Gentleman's party are circulating all over the country represent mere stupidity or hypocrisy?
§ Mr. SPEAKERThe hon. Member ought to know that those are not phrases which I could pass in a question on the Notice Paper, and therefore they ought not to be introduced into a supplementary question.
§ Mr. W. THORNEAs a matter of fact, the House is full of hypocrites.
§ Mr. HOPEWill not the banks make loans without interest when the right hon. Gentleman has carried out his policy of nationalising them?