§ 84. Mr. R. C. Morrison
asked the Financial Secretary to the Treasury whether permission is given to local authorities to convert outstanding loans to a lower rate of interest?
§ Mr. Morrison
Will the hon. and gallant Gentleman represent to his right hon. Friend that local authorities and their rate-payers are facing serious financial difficulties? With the Government borrowing 682 at 2½ per cent. and 3 per cent. they resent having to continue paying interest on loans at 6 per cent.
§ Sir J. Edmondson
My hon. Friend can rest assured that this matter will be constantly borne in mind.