§ Sir D. Walker-Smithasked the Secretary of State for the Environment if he will consider measures to assist local authorities in the containment of their mortgage interest rates analogous to the assistance given to the building societies.
§ Mr. CroslandShort-term loans of the kind offered to building societies would make no significant difference to the mortgages rates charge by local authorities since they operate on a very different financial basis. Building societies depend primarily on short-term savings for their 175W funds, whereas local authorities generally finance their home loans on the basis of longer-term borrowing.