§ 72 and 73. Mr. Prentice
asked the Chancellor of the Exchequer (1) whether he will take steps to make the resources of the Public Works Loan Board available to local authorities on a much larger scale than at present;
(2) whether he will make a substantial reduction in the rates of interest charged to local authorities for loans from the Public Works Loan Board.
The Board lends to local authorities to the extent that they are unable to raise capital in the open market, 109W and its interest rates reflect those prevailing in the market for local authority borrowing, I see no need for any change in these arrangements which fully provide for local authority requirements.