§ 60. Mr. Boyd-Carpenter
asked the Minister of Housing and Local Government what was the average rate of interest paid on advances from building societies on 15th October, 1964; what is now the average rate; whether he is satisfied with the position; and what action he proposes to take in the next six months.
§ Mr. Crossman
Samples for the nearest available dates 1st October, 1964, and 1st January, 1965, showed an average return on advances of about 6 per cent. and 6.1 per cent., respectively. I do not know what the present average figure is. As my right hon. Friends and I have made plain, the Government intend to reduce 257W the burden falling on house purchasers, and we are considering the best way of doing this.