Public Works Loan Board

HC Deb 22 February 1966 vol 725 cc211-2

11. Mr. Hamling

asked the Chancellor of the Exchequer what discussions he has had with local authorities on improving facilities for borrowing from the Public Works Loan Board.

Mr. Callaghan

My officials are frequently in touch with local authorities about their borrowing arrangements and the facilities for borrowing from the Public Works Loan Board have been improved in a number of respects since the Government took office.

Mr. Hamling

I congratulate my right hon. Friend on the improvements made in the last 15 months, but does not he agree that it is to this kind of operation that local authorities look for improvement in obtaining their capital requirements?

Mr. Callaghan

Yes. I will not hark back to what we have just been discussing, but I am sure that, like tax-payers, local authorities make their financial arrangements in the way that will best suit themselves. This is not always the way that suits the Exchequer.