§ 33. Mr. Stokesasked the Minister of Health whether he is aware that, to complete the Ipswich Housing Scheme, a further 390 acres of land will be required at a total estimated cost of £535,000, including roads and sewers; and if he will state the rateable value of the land and give a separate figure for the cost of roads and sewers.
§ Mr. BevanI understand that the Ipswich Town Council are contemplating the purchase for housing of a site of 390 acres. The greater part of the site is agricultural land and de-rated, and the rateable value of the rest is £158. No proposal has yet been submitted to me, and I am not in a position to give the information asked for in the latter part of the Question.
§ Mr. StokesIs my right hon. Friend aware that this land, which has been derated for so long, is now valued at 3,000 times its normal rateable value? Is it not time the Government took steps to stop this racket?
§ Mr. BevanThe result of communal activity is to raise the value of land everywhere, and next Session I hope there will be a Bill to deal with the matter.
§ 34. Mr. Stokesasked the Minister of Health whether he is aware that the total cost of the Ipswich Council's 5,000 houses plan is estimated at £5,707,755; and whether, as the interest on the money raised to finance the scheme will amount, in total, to £5,108,798, he will consider arranging for an interest-free loan as no question of risk is attached to this venture.
§ Mr. BevanAny concession in lending to a local authority free of interest or at a rate of interest less than that at which the Government can borrow would constitute a form of concealed subsidy. The Government policy on subsidies for housing is embodied in the Housing (Financial and Miscellaneous Provisions) Act, 1946, which provides subsidies designed to enable local authorities to provide new houses to let at reasonable rents.
§ Mr. StokesWhile not wishing to ask the Government to do anything regarding concealment, may I ask my right hon. Friend why, as we now control the monetary system, we should continue this outworn process, whereby citizens are bound to support for ever interest on money which did not exist until it was required for their needs?
§ Mr. BevanMy hon. Friend, with his usual robust vigour, is aiming at the wrong target. This is not a matter for me, but for my right hon. Friend the Chancellor of the Exchequer.
§ Mr. StokesI know, but will my right hon. Friend, with his usual force, make representations to the Chancellor about it?