Public Works Loan Board

HC Deb 09 December 1958 vol 597 cc198-9

36. Mr. Prentice

asked the Chancellor of the Exchequer what representations he has received from the Association of Municipal Corporations in favour of lower rates of interest for loans to local authorities from the Public Works Loan Board; and the terms of his reply.

Mr. Amory

I have not received any such representations from this Association.

Mr. Prentice

Is the right hon. Gentleman aware that at its September meeting the General Purposes Committee of the A.M.C. expressed the view that the Public Works Loan Board ought to give a lead to the money market by trying to bring the rates of interest down? In view of the need to encourage local authorities in constructive capital spending in a time of unemployment, should not he take this advice and bring down the Public Works Loan Board rates of interest?

Mr. Amory

As I have said, I have not received any representations to that effect from the body to which the hon. Member has referred.