HC Deb 06 December 1933 vol 283 c1487
53. Sir N. STEWART SANDEMAN

asked the Financial Secretary to the Treasury whether the surplus funds of the Public Works Loan Board are sufficient to allow of a reduction in the interest rates on all loans to local authorities to 4 per cent, or even lower?

The FINANCIAL SECRETARY to the TREASURY (Mr. Hore-Belisha)

No, Sir; any such revision would endanger the solvency of the fund.