HC Deb 01 March 1937 vol 321 cc27-8
66. Mr. David Adams

asked the Secretary to the Treasury what is the present rate of interest on advances made by the Public Works Loan Board to local authorities in England and Wales for the purposes of housing; and whether any early alteration in the present rate is contemplated by the Treasury?

Lieut.-Colonel Colville

The present minimum rate of interest on loans to local authorities, which applies to housing loans, out of the Local Loans Fund is 3i per cent. In reply to the second part of the question, the position is being watched, but I am not able to make any further statement at present.

Mr. T. Williams

Has this rate of interest been varied recently?

Lieut.-Colonel Colville

Not very recently, but I cannot give the exact date without notice.

Mr. Kelly

Has the right hon. Gentleman any information as to the amount borrowed by the London County Council for the enormous number of houses they have in course of construction?