§ Mr. Lagden
asked the Chancellor of the Exchequer whether he will make a statement about the rates of interest charged to local authorities borrowing from the Local Loans Fund.
A Treasury Minute made today provides that loans advanced to local authorities from the Local Loans Fund on and after 12th July, 1958, until further notice shall carry the following rates of interest:
Loans for not more than 5 years 5¾ per cent. Loans for more than 5 years but not more than 15 years 6¼ per cent. Loans for more than 15 years 6¼ per cent.