Mr. SIMONasked the Minister of Health whether he is aware that many builders who are building houses under the Housing Act, 1923, are likely to be prevented by circumstances beyond their own control from finishing their contract by 30th September, and will therefore suffer hardship by losing the subsidy; and whether he is prepared to give a reasonable extension of time in such cases?
§ Mr. GREENWOODI have no power to grant an extension of time for the payment of subsidies under the Housing Act, 1923, even in such circumstances as are referred to by the hon. Member.
Mr. SIMONasked the Minister of Health what is the capitalised value of the present subsidy of £7 10s. for 40 years under the Housing Act, 1924?
§ Mr. GREENWOODThe present capital value of an annuity of £7 10s. per annum payable half-yearly for a period of 40 years is, on a 5 per cent. interest basis, approximately £129.