§ 41. Mr. Grimondasked the Chancellor of the Exchequer what is the amount of money raised by the local authorities on the market and by mortgage since 7th February.
§ Mr. H. BrookeFour local authorities raised a total of £8 million by issues of stock. As my right hon. Friend explained to the House on 7th February, we have no precise figures for loans raised on mortgage, but it is estimated that such loans raised and already arranged amount to about £35 million.
§ Mr. GrimondCan the Minister say whether any local authorities which have been forced to approach the market have been refused accommodation, or have been unable to obtain accommodation upon suitable terms?
§ Mr. BrookeThe arrangements announced in the autumn by my right hon. Friend the Lord Privy Seal, when Chancellor, was that an authority would have access to the Public Works Loan Board if it were unable to borrow upon reasonable terms in the market.