§ Mr. G. Griffithsasked the Chancellor of the Exchequer whether he will now consider taking further steps to reduce the high rates of interest paid by local authorities on their loans to, at most, 3 per cent.?
§ Sir K. WoodNo, Sir. I do not regard my hon. Friend's particular suggestion as practicable. I will, however, continue to bear in mind the possibility of such further conversions of local authorities' loans as may be permitted by the conditions under which those loans were issued, provided always that such transactions do not conflict with other more important claims on the capital market.