§ Mr. McGOVERNasked the Secretary of State for Scotland the cost of building three-, four-, and five-apartment houses at Sandyhills, Glasgow, during 1923–24 and the estimated cost of three- and four-apartment houses that are in course of construction at Amulree Street and Strathord Street, Sandyhills; and what is the local and national subsidy on each house built in 1923–24 and those under construction at present, the rate of interest on borrowed capital, and the length of period for repayment in each case, and the owners' present rate per £ of rent?
§ Sir G. COLLINS:I am informed that the all-in cost of the three-, four- and five-apartment houses built by the corporation of Glasgow at Sandyhills during 1923–24 was £501, 2650, and £750 per house, respectively, and that the estimated all-in cost of the three- and four-apartment houses in course of construction at Amulree and Strathord Streets is £396 and £477, respectively. The annual local and State subsidies, payable over a period of 60 years, for the earlier scheme are estimated at £7 8s. and £33 per house, respectively, for the current year. The State subsidy, payable over a period of 40 years, for the latter scheme is £9 per house annually, but the local subsidy is not yet ascertainable as the rents have not been fixed nor has the final cost been determined. The rate of interest on borrowed capital in the earlier scheme is £4 18s. 2d. per cent., and in the later scheme £4 15s. per cent. In the earlier scheme the periods for repayment of loans are 60 years for land and houses, 40 years for sewers, and 20 years for streets. In the later scheme the periods of repayment are 40 years for sewers plus the capitalised value of the national and local subsidies, 20 years for streets, and 60 years for the balance of the expenditure. Local rates on owners are at present 5s. 6d. per pound of rental.