§ Captain MOREING
asked the Minister of Health the total sums of money raised by local authorities for housing purposes; whether the interest on this money will be met out of the rents; and, if not, what will be the annual charge on the Exchequer?
§ Dr. ADDISON
The amount of capital raised to date by local authorities for housing purposes by issue of stock, Housing Bonds and mortgage of rates is 1203W approximately £51,000,000, in addition to loans obtained by smaller authorities from the Public Works Loan Commissioners. The interest on these loans will be derived from the revenues of the housing scheme, consisting of the rents of the houses, the Exchequer subsidy, and the penny rate. The amount of the annual Exchequer subsidy will depend on the cost of building, the number of houses built, and the rents which can be obtained.