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.