§ 82. Mr. Currie
asked the Minister of Housing and Local Government whether, 52W in view of the increase in Bank Rate, he will, with a view to relieving local authorities of the additional standing charges involved in housing schemes, authorise a reduction in the interest rate chargeable in respect of advances made to local authorities for housing development; and whether he will make facilities on a similar financial basis available to building societies.
§ Mr. Crossman
My right hon. Friend the Chancellor of the Exchequer said on 23rd November that the Government were urgently considering whether some means could be found of mitigating the severity of the increase in Bank Rate on the housing programme. I have nothing to add.
As to the second part of the question, I would refer the hon. Member to the replies I gave to the hon. Member for Worcester (Mr. Peter Walker) and other hon. Members, on 24th November.