§ 11. Mr. P. Williams
asked the Minister of Housing and Local Government and Minister for Welsh Affairs whether he will make a statement on the progress made with loans to non-profit-making housing associations.
§ Mr. Rippon
Though only three months have elapsed since the loans scheme was formally launched, over a dozen building projects are being prepared and one advance has been made towards the cost of land acquisition. These developments and the many further inquiries received from housing associations and other interested people show that the scheme has got off to a sound start.
§ Mr. Williams
Could my hon. Friend tell the House exactly how much money is involved so far? Would he agree that it is very difficult for these associations to make much headway where local authorities continue to charge uneconomic rent, and unless something can be done about this, this form of association will not be very successful?
§ Mr. Rippon
The money involved, £25 million, was referred to in the Housing Act, 1961. So fair a very small amount of money has been advanced on the one scheme, but we are finding a great deal of interest and there is no reason to suppose that the scheme will not fulfil its purpose of showing that people want houses to rent and are prepared to pay cost rents for them.