HC Deb 27 April 1937 vol 323 cc166-7
45. Mr. E. J. Williams

asked the Chancellor of the Exchequer whether he will favourably consider, as a contribution to the Special Areas, a reduction in the interest charge on public loans contracted by local authorities during the last 10 years?

The Chancellor of the Exchequer (Mr. Chamberlain)

The Government's plans for assisting the Special Areas are already well known to the House. The particular suggestion made by the hon. Member has often been made before, though without confining it to the Special Areas. It would involve the payment by the State of a subsidy to enable the Local Loans Fund to meet its existing obligations, and I am afraid I could not entertain such a proposal.

Mr. Bellenģer

Would it not be possible for the right hon. Gentleman to initiate measures to enable some of these local authorities to convert loans, which they made at high rate of interest, to cheaper rates?