Mr. T. MORRIS
asked the Minister of Health how many local loans to local authorities in Wales have been sanctioned within the last 12 months; what has been the rate of interest in each case; and what is the rate now?
Sir H. YOUNG
I have sanctioned during the last 12 months 551 loans for public works (including housing) to local authorities in Wales and Monmouthshire. I have no complete information of the rates of interest paid by the authorities in respect of these loans; but many of them have no doubt been advanced by the Public Works Loan Board, and the rate of interest charged by that body since April of last year has been 3⅝ per cent. for most loans and 3⅞ per cent. for some.