§ Mr. WARDLAW-MILNEasked the Chancellor of the Exchequer whether he will consider the question of raising a Government housing loan with a view to helping the smaller local authorities to build working-class houses, or of extending the activities of the Public Works Loan Board for that purpose so as to enable small local authorities to borrow on more advantageous terms than they can do at present?
Mr. SAMUELThe resources of the Public Works Loan Board are, in the main, reserved for the smaller local authorities. Since 1st April, 1920, they have lent for the purposes of the various Housing Acts £195,000,000, and in the current year about £29,000,000 to the local authorities. The loans are made on terms which represent the actual cost of the operation. In view of these facts, there would appear to be no ground for my hon. Friend's suggestion.