HC Deb 21 July 1953 vol 518 cc190-1
28. Mr. Sparks

asked the Chancellor of the Exchequer if he will take steps to arrange for housing loans to local authorities from the Public Works Loan Board to be advanced for shorter periods than 60 years, or alternatively to permit break clauses in the terms upon which the Board advances money to local authorities.

Mr. Boyd-Carpenter

This matter is under consideration.

Mr. Sparks

Does the hon. Gentleman mean that the House will be informed as soon as possible of the results of that consideration?

Mr. Boyd-Carpenter

It means that discussions are taking place, and if changes of substance are decided upon, of course the House will be informed.

Mr. Emrys Hughes

Is the hon. Gentleman aware that the Ayrshire County Council are considering floating a loan but have been told that the expense of that loan means £60,000 extra to the money lenders, and will he hurry up his decision to enable them to save that money?

Mr. Boyd-Carpenter

I am not aware of the facts to which the hon. Gentleman refers, but I am glad to learn from him that the Ayrshire County Council are considering taking advantage of its new freedom.

Sir T. Moore

Is that not considerably less than what the Ayrshire County Council lost in investing in Dalton loans?