§ 16. Mr. Costainasked the Minister of Housing and Local Government if he will estimate the amount of money now required for local authority mortgages to have equivalent value of £179 million in 1964, taking into account increased costs.
§ Mr. FreesonAbout £250 million, Sir, as compared with about £155 million allocated for 1970. Building society lending this year is expected to reach £1,700 million which is about £650 million more than they lent in 1964.
§ Mr. CostainDoes the Minister appreciate that the figure of £179 million was the amount of mortgages which the Conservative Government gave in 1964? Does not his answer show how hopelessly inadequate is the sum of £155 million the Government are now offering?
§ Mr. FreesonI suggest that the hon. Gentleman gets in touch with the Association of Municipal Corporations, because its representatives and representatives of other associations we have consulted do not take such a view.