§ THE EARL OF SELBORNEMy Lords, in the absence of my noble friend Lord Grey, I beg to ask the Government the starred Question standing in his name—viz., whether it is their intention that the Regulations to be issued by the Treasury in accordance with Section 7, subsection (1), of the Housing and Town Planning Bill now before the House shall provide that local authorities or other bodies, in receipt of loans under the Bill, shall obtain the benefit of any lower rate of interest should the Government be able to borrow at such lower rate during the period of the loans in question.
THE CHANCELLOR OF THE DUCHY OF LANCASTER (THE EARL OF CRAWFORD)My Lords, I must apologise for the absence of my noble friend who was to have answered this Question. Perhaps the noble Earl will allow it to be put down for our next sitting. The business has gone with rather unexpected speed during the last few minutes.