§ Mr. HOAREasked the Chancellor of the Exchequer the total amount of loan charges on elementary schools for the last year for which statistics are available; and what is the average rate of interest of the charges?
§ Mr. LLOYD GEORGEI am informed by my right hon. Friend the President of the Board of Education that the total amount of loan charges on elementary schools in 1911–12 (the last year for which complete statistics are available) was £2,931,474. The amount of interest (£1,395,186) included in this sum represents an average rate of interest of 3.4 per cent. on the amount of loans outstanding at the beginning of the year 1911–12.