HC Deb 04 August 1942 vol 382 c873W
Mr. Wootton-Davies

asked the Chancellor of the Exchequer in how many cases the Public Works Loan Board is charging 6 per cent. or over and which these cases are?

Sir K. Wood

Six per cent. is being charged in 2,121 cases, 6¼ per cent. in 131, 6½ per cent. in 4,102 and 6¾ per cent. in 37. Of the 2,121 and 4,102, 1,757 and 3,901 respectively are loans for housing and were for the most part advanced to local authorities under the Housing, Town Planning, etc., Act, 1919, which provided that a local authority should be required to meet a deficit only up to an amount equivalent to the produce of a rate of 1d. These particular loans, amounting to about 90 per cent. of the total number of cases, account for about 98 per cent. of the balances remaining owing to the Board. The other cases include advances for purposes of public health, education, allotments and a few miscellaneous items.