Captain COOTEasked the Chancellor of the Exchequer whether it is intended to restrict the investment by the National 1993W Debt Commissioners of half the proceeds of the sale of National Savings Certificates after 30th September, 1920, to local loans stocks of local authorities under £200,00 rateable value?
Mr. CHAMBERLAINNo, Sir. It is proposed to allow loans from the Local Loans Fund for housing to larger authorities up to half local subscriptions to Certificates after 30th September next. A full announcement will be made shortly on this subject.
Captain COOTEasked the Chancellor of the Exchequer whether it is his intention, after 30th September, 1920, to restrict loans to local authorities to the total of half the proceeds of the issue of National Savings Certificates after that date?
Mr. CHAMBERLAINNo, Sir; but the Local Loans Commissioners will, as now, require that all authorities applying to them for assistance shall show that they have done and are doing all in their power to help themselves. This is necessary in the general interests of housing finance.