§ Mr. John H. Osbornasked the Secretary of State for the Environment what is now the total indebtedness of local government in England, Wales, Scotland and Northern Ireland, respectviely, and in total; and if he will express this amount per capita of the population and per family, comparing the position with 1960 and 1955.
§ Mr. ArmstrongUnder the Government option mortgage scheme the current normal building society gross rate of 11 per cent. is reduced to 7.2 per cent. and thus monthly repayments on a £10,000 annuity mortgage repayable over 25 years are £72.90, with a minor reduction in the final year. The overall cost, assuming no change in interest or subsidy rates, would be £21,794.10. The personal 253W circumstances of the borrower are immaterial in reckoning the cost of repayments.