§ Mr. Proctorasked the Chancellor of the Exchequer what were the changes in rates of interest charged to local councils for building purposes from 1950 to the last convenient date.
§ Mr. H. MacmillanThere is no separate scale of rates for loans for building purposes. The rates of interest charged by the Public Works Loan Board on all loans to local authorities were these:
— For loans for over 5 years or less For loans for over 5 years but not over 15 years For loans for over 15 years In force on 1st January, 1950 2 2½ 3 With effect from— 10.11.51 2 3 3¾ 9.2.52 2¾ 3¾ 4¼ 20.10.53 2⅝ 3½ 4 4.6.54 2¼ 3¼ 3¾ 1.3.55 3⅛ 3¾ 4 9.7.55 3¾ 4¼ 4¼ 13.8.55 4⅛ 4½ 4½ 7.9.55 4½ 5 5 14.1.56 5½ 5⅜ 5¼ 24.3.56 5⅝ 5½ 5½ The last mentioned rates are still in force.