HC Deb 30 January 1941 vol 368 cc681-2
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?

Sir J. Edmondson

No, Sir; not at present.

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 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.