§ 54. Mr. Pearsonasked the Financial Secretary to the Treasury what amount of loans from the Public Works Loans Board to local authorities is now out standing; and has any local authority de faulted?
§ Captain CrookshankOn 31st March, 1939, the balance of principal outstanding in respect of loans from the Public Works Loan Board to local authorities was £311,021,449 19s. 1d. At the same date four local authorities were in default.
§ Mr. PearsonIn view of this excellent record, can the hon. Gentleman tell us why loans are either with held or delayed when they are needed in South Wales for urgent public health purposes?
§ Captain CrookshankI could not answer a question of that kind. The board must be allowed to consider each case on its merits.