§ Mr. Ifor Davies
My right hon. Friend has had no recent discussions with the building societies or local authorities on this subject; but both he and my right hon. Friend the Minister of Housing and Local Government maintain close contact with the Building Societies Association.
§ Mr. Gower
Will the Minister take account of the fact that local authorities such as Port Talbot, Ebbw Vale and Pontypridd are paying 8¾ per cent. interest to the Public Works Loan Board for money for house purchase and that the Principality Building Society has forecast the inevitability of an increase in interest rates by building societies? Is it not a fact that house purchasers in Wales, as elsewhere, face a very grim 647 prospect in the months, and possibly years, ahead?
§ Mr. Davies
Our record in housing is a very proud one and does not indicate any difficulties. I should point out that house purchasers are being helped by the tax reliefs on what they pay.