§ Mr. Arthur Jonesasked the Minister of Housing and Local Government what figure of housing subsidy he estimates will be payable to local authorities in the current year under the provisions of the Housing Subsidies Act, 1967.
§ Mr. MacCollPayments made in 1969–70 will depend in some measure on representative borrowing rates for 1968–69 which have yet to be determined. It is at present estimated that the total subsidies payable to public authorities in England (including for this purpose housing associations, development corporations and the Commission for the New Towns) under the provisions of the Housing Subsidies Act 1967 will be £47 million.
§ Mr. Arthur Jonesasked the Minister of Housing and Local Government what it is estimated will be payable by way of subsidy under the Housing Subsidies Act, 1967 arising from a one per cent. rise in the average level of interest rates paid by local authorities.
§ Mr. MacCollThe representative interest rate for the current year has not yet been calculated but it is estimated that a notional rise of 1 per cent. over the rate determined for last year would increase the total subsidies payable to public authorities in England (including for this purpose housing associations, development corporations and the Commission for the New Towns) by approximately £6 million for the current year.