§ 53. Mr. TRAINasked the Chancellor of the Exchequer whether he is now in a position to state if steps will be taken at an early date under which the loans granted by the Public Works Loan 821 Board shall be given at a figure less than 4¾ per cent.; and whether the interest on housing bonds will be reduced?
Mr. CHAMBERLAINThe minimum rate for advances from the Local Loans Fund was reduced from 4¾ per cent. to 4 per cent. on the 11th October. A reduction of the standard rate of interest on housing bonds is under consideration.