§ Major KELLEYasked the Minister of Labour, as representing the Ministry of Health, what loan facilities are now open to local authorities who desire to resume housing schemes which they recently suspended; and whether he can urge the Treasury or the Committee responsible for such facilities to grant them to local 2617W authorities in areas where overcrowding is a serious menace to health and many building trade workmen are unemployed?
§ Sir M. BARLOWLocal authorities are fully empowered under the Housing Acts to borrow money for the carrying out of housing schemes, subject to the sanction of my right hon. Friend the Minister of Health, and such sanction is readily granted for satisfactory schemes. There is, generally speaking, no difficulty at the present time in raising capital for this purpose. The Public Works Loan Commissioners will consider applications from local authorities whose rateable value does not exceed £200,000. The rate of interest on loans made by the Commissioners for housing at present being 5 per cent. The large local authorities can generally make their own arrangements for borrowing on at least as favourable terms, and, in addition, they may borrow through the Public Works Loan Commissioners one-half the money raised in their areas by the sale of National Savings Certificates.