§ 18. Mr. Hamiltonasked the Chancellor of the Exchequer why the Public Works Loan Board does not give specific reasons for the rejection of loan applications by local authorities; and whether he will issue an instruction that such reasons should be given in the future.
§ Mr. P. ThorneycroftThe reason for the rejection or partial rejection of an application is normally that the Board is not satisfied that the authority applying has made full use of its credit to borrow in the market. It is the practice for this to be explained to applicants.
§ Mr. HamiltonIs the Chancellor aware that there are grave suspicions that the Board does nothing of the kind, that it does not look at each case objectively on its merits, and that on occasions the intervention of a Minister of the Crown can make the Board change its mind? Does not he think that is a most unsatisfactory state of affairs?
§ Mr. ThorneycroftIf the hon. Gentleman has any complaints about an individual case and will let me know, I will look at it.