§ Mr. Mitchisonasked the Chancellor of the Exchequer what were, for the financial year 1957–58, the totals of money borrowed by local authorities for capital purposes, of money so borrowed, respectively, from the Public Works Loans Board, by issues in the market, and by mortgages and other forms of market borrowing, and of money found by local authorities for capital purposes from their own internal resources.
§ Mr. ErrollLocal Government financial statistics for 1957–58 are not yet complete and the following figures are therefore estimated on the basis used for the National Income accounts. Net borrowing by local authorities in the United Kingdom for capital purposes in 1957–58 (less repayments and less lending by local 61W authorities to persons) is estimated at £376 million, made up as follows:
£ million Public Works Loan Board 33 Government Loans Fund (Northern Ireland) 6 New stock issues 39 Borrowing from superannuation funds, etc. 25 Other borrowing (mortgages, bonds, etc.) 273 Other sources of funds for capital investment were Government grants (£24 million) and the current surplus on revenue account, before providing for depreciation and stock appreciation (£170 million).