HC Deb 15 March 1955 vol 538 cc1114-5
39. Mr. Ross

asked the Secretary of State for Scotland if he will give an estimate of the increased cost of the average four-apartment local authority house as a consequence of the increase in interest rate of the Public Works Loan Board.

Mr. J. Stuart

The increase will be 4s. 2d. a year on each £100 of the cost of the house over the loan period of 60 years.

Mr. Ross

Is the right hon. Gentleman aware that a recent committee which he set up drew attention to the fact that the rates in Scotland were already overloaded? Does this new development mean that he will be still further overloading the heavily burdened ratepayers in Scotland?

Mr. Stuart

One answer is that if the ratepayer does not carry it the taxpayer will, and I think that both are overloaded.