§ Mr. Douglas-Mann
asked the Chancellor of the Exchequer if he will change the Treasury rules so that guarantees by local authorities to building societies of mortgage loans—to enable the building societies to lend on properties or to borrowers or to a valuation that would not otherwise be commercialy acceptable—are treated as increasing estimated public expenditure only to the extent of the actuarial estimate of the sum likely to become payable under such guarantees, instead of by the full amount of the sum guaranteed.
§ Mr. Joel Barnett
No. Such guarantees are not treated as increasing public expenditure except in so far as they are called on. The present forward estimates of public expenditure include no specific provision in respect of such guarantees.