§ 43. Mr. Woodburnasked the Chancellor of the Exchequer whether, under the post-war cheap money policy announced by the Government, he will give an assurance that the necessary loans for housing and other local government development will be arranged on the same low rates as have applied to the financing of the war.
§ Sir J. AndersonIt will certainly be one of the objects of the policy of cheap money that necessary loans for housing and for other local government purposes should be raised as cheaply as possible.
§ Mr. WoodburnThe Chancellor has declared on behalf of the Government that a cheap money policy is to be pursued after the war. Can he give any assurance to local authorities that in housing and other development plans they will have cheap money in the sense in which it has been used during the war?
§ Sir J. AndersonThat was the effect of the answer I have just given.
§ Mr. A. EdwardsDoes that mean that rates of interest for housing loans will be no higher than for War Loan?
§ Sir J. AndersonI did not say that. I said they would have the benefit of the cheap money if there happens to be a 1576 to enter into consultations with the representatives of local authorities in the immediate future.
§ Mr. A. BevanDoes the Chancellor intend to give special instructions to the Public Works Loans Board in this matter?
§ Sir J. AndersonIt is quite likely, but I do not want to anticipate the discussions into which I am about to enter.
§ Mr. A. HopkinsonCan the Chancellor say whether it will be possible to have cheap money if there happens to be a Socialist Government?
§ Mr. StokesDid not the Chancellor declare the other day that the Government's post-war policy for cheap money was limited to the immediate post-war period?
§ Sir J. AndersonNo, I did not. If my hon. Friend will refer to what I said, he will see that it was not that.