§ Mr. Mackintoshasked the Minister of Public Building and Works whether he will make a statement about the operation of the Armed Forces (Housing Loans) Acts.
§ Mr. PrenticeYes. The Armed Forces (Housing Loans) Acts provide for the issue of money from the Consolidated 131W Fund as one means of financing the construction of such new married quarters in Great Britain as would be suitable for civilian use if the Services had no further need for them. The money issued is treated as a loan to be repaid with interest in equal instalments over a period of sixty years.
The Acts have been extended periodically since the first one was introduced in 1949. Originally, the loans procedure was intended to safeguard the bulk of the married quarters building programme in the United Kingdom from Defence Budget pressures. In recent years though, the need for this safeguard has gradually lessened with the evolution of modern budgetary techniques. These techniques ensure the necessary priority for Services housing and give a firm financial basis for forward planning. I do not therefore intend to seek further borrowing powers after 31st March, 1968, and an extension of the Acts will not be necessary beyond that date.