§ Sir W. Jenkins
asked the Financial Secretary to the Treasury whether he is aware that demands are being made upon local authorities for increased rates of interest on existing loans and on loans which have terminated since the beginning of the present emergency; and whether he will take steps to protect the local authorities against these demands by providing that the rates of interest shall not exceed the rate allowed on national loans?
§ Captain Crookshank
The rates of interest on loans to local authorities are matters for agreement between the authorities and the lenders and, while I have no general information on the points referred to in the first part of the hon. Member's question, I am aware that in some cases offers of loans involving unduly high rates of interest have been rejected. The suggestion in the second part of the question is, I fear, impracticable.