§ Lieut.-Colonel POWNALLasked the Minister of Health whether he is aware that the official memorandum on housing, entitled Financial Assistance to Public Utility Societies, dated 24th March, 1919, stated on the top of page 3 that advances would be made to such societies on the same terms as to local authorities; and, if so, whether he will explain why public 1932W utility society loans not exceeding fifty years are to be charged 5¾ per cent, interest from 1st September, although local authorities are only called on to pay 5½ per cent.?
Mr. CHAMBERLAINArrangements have now been made under which the same rate of interest will be charged by the Public Works Loans Board for loans in respect of subsidised housing scheme? to public utility societies as are charged to local authorities. This rate is now 6 per cent.