§ Mr. A. V. ALEXANDERasked the Minister of Labour, as representing the Ministry of Health, what rate of interest is now charged in respect of short-period loans up to five years granted to Poor Law authorities now classed as necessitous areas to assist them in meeting the present abnormal burden of unemployed Poor Law relief?
§ Major BOYD-CARPENTERThe rate of interest charged in respect of loans raised by Poor Law authorities is a matter of arrangement between the authority and the lenders. In cases in which an advance is made from public funds the rate charged is the market rate for loans of similar currency. In recent cases 5 per cent. has been charged.
§ Mr. W. THORNEasked the Minister of Labour, as representing the Ministry of Health, if he is aware that the West Ham Board of Guardians have paid out in relieving destitution arising out of unemployment, exclusive of effects of strikes, lock-outs, and trade disputes, over £1,400,000; that with the exception of £300,000 the money has been raised from the rates; that other industrial centres have overdrafts at the bankers amounting to about £3,000,000; and will the Government reconsider their attitude in this matter?
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§ Major BOYD-CARPENTERMy right hon. Friend is aware of the heavy expenditure of the West Ham and certain other boards of guardians. The statement prepared on behalf of the West Ham and other hard pressed areas has been referred to the Cabinet Committee on Unemployment, and will receive their most careful consideration.