HC Deb 20 March 1964 vol 691 c232W
Mr. Malcolm MacMillan

asked the Secretary of State for Scotland what was the average cost of building a four-apartment local authority house in Stornoway in 1950–51; what were the total interest charges repayable over the 60-year loan period; and what are the corresponding figures at present building cost and interest levels.

Mr. Noble

Tenders approved in March, 1951, included 4-apartment houses in Stornoway costing £1,990. If that sum were borrowed at the Public Works Loan Board rate then current, repayment spread over 60 years on the normal annuity basis would involve interest charges to an arithmetical total of £2,313. Corresponding figures for tenders approved it November, 1963, are £2,668 cost and £6,854 interest charges.

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