49. Viscountess ASTOR
asked the Chancellor of the Exchequer how much money has been loaned to local authorities for housing purposes in proportion to the sale of the National Savings Certificates in local districts?
§ Mr. CHURCHILL
Since August, 1920, the Public Works Loan Board has advanced to local authorities from the Local Loans Fund for housing purposes £121,000,000. The total sales of Savings Certificates since the same date have been £273,000,000, and the repayments £179,000,000. The arrangements whereby local authorities are allowed, apart from any other right of access they may have to the Fund, to borrow up to the limit of one-half of the sales of Savings Certificates in their areas, was utilised during the period named for housing purposes to the extent of £6,000,000.