§ Major PRESCOTTasked the Chancellor of the Exchequer if he will give the reasons why the Treasury have placed an embargo on the Public Works Loans Commissioners advancing moneys to local authorities under the Small Dwellings Acquisition Act, 1890, in eases where the rateable value exceeds £200,000; and whether he is aware that this policy is seriously hindering the provision of houses for the industrial classes?
Mr. CHAMBERLAINHaving regard to the extensive demands on the resources of the Local Loans Fund for housing and similar purposes, it has been necessary to lay down a rule that authorities with a rateable value exceeding £200,000 must raise their requirements in the open market.