Local Authority Loans (Interest Rates)

HC Deb 15 February 1957 vol 564 cc231-2W

Mr. Rippon

asked the Chancellor of the Exchequer whether he will make a statement about the rates of interest chargeable to local authorities borrowing from the Local Loans Fund.

Mr. P. Thorneycroft

A Treasury Minute made today provides that loans advanced to local authorities from the Local Loans Fund on and after 16th February, 1957, until further notice shall carry the following rates of interest:

	Per cent.
Loans for not more than 5 years	5¼
Loans for more than 5 years but not more than 15 years	5½
Loans for more than 15 years	5½