§ EARL GREYMy Lords, I beg to ask His Majesty's Government, with reference to the Local Government Board Circular of February 6 to local authorities on the subject of housing of the working classes, whether for the purposes of the final adjustment local authorities will be allowed to include provision for a sinking fund in their future annual changes, and, if so, over what period should the sinking fund be spread; and further, how soon will the Memorandum embodying the terms to be offered to public utility societies hi laid upon the Table.
§ VISCOUNT SANDHURSTMy Lords, I should like to say how grateful I am to the noble Earl for having postponed his Questions to suit my convenience, which enabled me to attend to some other rather important public business. The Questions of my noble friend are three. In answer to the first, I have to say that for the purposes of the adjustment of the subsidy the future annual loan charges, both for interest and for repayment of capital, will be included whether the capital is to be repaid by equal annual instalments or by the creation of a sinking fund. They will, in fact, form the chief item of the expenditure, and will be the annual amount necessary to provide for the redemption of the loans in the period prescribed by the Local Government Board for repayment.
In reply to the second Question, in regard to lands the period will be eighty years, and in regard to buildings sixty year? In answering the third Question I have to say that I very much regret that this Circular has been delayed. It has be in prepared by the Local Government Board in conjunction with the Treasury, and I hope to be able to lay it on the Table very shortly. The real reason why the delay has occurred—which reason I regret very much—is that the President of the Local Government Board has been a serious victim of the prevailing epidemic; other- 816 wise there is no doubt that it would have been before your Lordships earlier. I trust that I have answered the Questions, of the noble Earl.
§ THE MARQUESS OF SALISBURYMy noble friend opposite is of course, aware that the Housing Bill is before Parliament. I see that this measure was introduced into another place yesterday, so that the time is getting a little late for having some of the main conditions under which housing is to be carried out presented to Parliament.
§ VISCOUNT SANDHURSTI will do my utmost to hurry the Circular up.