53. Sir N. STEWART SANDEMANasked 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.