HC Deb 19 February 1953 vol 511 cc1428-9
17. Mr. Roy Jenkins

asked the Chancellor of the Exchequer whether, in view of the high interest rates now being charged, he will take steps to allow local authorities to borrow from the Public Works Loan Board for periods shorter than those at present stipulated.

Mr. Boyd-Carpenter

This matter is under consideration.

Mr. Jenkins

Will the hon. Gentleman bear in mind that when local authorities take the view that rates of interest may fall over the period for which they are borrowing, they are naturally not anxious to borrow for long periods on the market? Big local authorities meet this difficulty and the Public Works Loan Board ought to do it in the case of small authorities.

Mr. Boyd-Carpenter

This matter was raised at a meeting which I had with local authorities in December. Further discussions are taking place and I would rather not add to my answer at the moment.