§ 34. Mr. Hoyasked the Secretary of State for Scotland what were the total interest charges, repayable over 60 years, incurred by local authorities in Scotland for a house built at a cost of £2,000 in the years 1950–51 and 1962–63, respectively.
§ Mr. NobleThe annual charge for a 60-year loan of £2,000 raised at Public Works Loan Board rates in 1950–51 would be £72 1s. 6d. and today £118 19s. 4d.
§ Mr. HoyThis has nothing to do with the grant. We would like to know, first, who is collecting this money. Indeed, when the figures prove that the Secretary of State has increased the cost of a house by nearly 50 per cent. per annum by interest charges, is it not about time that the right hon. Gentleman directed his attention to this on-cost in housing rather than tried to extract the last penny from municipal tenants and put the blame upon them for what, in fact, has been the policy of the Government?
§ Mr. NobleThe hon. Gentleman continues to quote gross figures. If the grant is taken into consideration the rise is nothing like that.