§ 52. Mr. MOLSONasked the Financial Secretary to the Treasury whether, in view of the low rate of interest now payable on Government loans, he will consider the desirability of lowering still further the rate of interest charged to local authorities by the Public Works Loan Board?
§ Mr. HORE-BELISHAI am glad to be able to inform my hon. Friend that it has been decided to reduce the minimum rate of interest for new advances from the Local Loans Fund to 3⅝ per cent. An announcement of the change will appear in to-day's issue of the London Gazette.