§ 35. Mr. HICKS (for Mr. THORNE)asked the Minister of Health the number of mortgages on houses held by local authorities under the Small Dwellings and Housing Acts; and whether, in view of the reduction in interest rates now being charged by building societies, he can take any steps to reduce the rate of interest to borrowers under the foregoing Acts, in order to reduce the number of foreclosures now being made by local auhoities?
Sir H. YOUNGAdvances have been made by local authorities in respect of approximately 150,000 houses. The rates of interest at which such advances were made were related to the rates at which local authorities were themselves able to borrow and ordinarily could only be reduced now at the expense of the general body of the ratepayers. I am nut aware that local authorities have to make any extensive resort to their powers of foreclosure.