§ Mr. T. Lewisasked the Chancellor of the Exchequer, in view of the Government decision to reduce from 1⅛percent. to.⅝percent. the rate of interest on Treasury deposit receipts and to convert 2½ per cent. War and Conversion, Loans into if 1¾ percent. Exchequer Bonds and the fact that an interest rate of 4 percent per annum in respect of land compulsorily purchased, on which entry has been made before compensation is paid, is now too high, whether he will make regulations under Section 62 of the Town and Country Planning Act, prescribing a lower rate than 4 per cent.; and what rate of interest he will prescribe.
§ Mr. DaltonThe rate of interest appropriate, where the purchase money for land compulsorily acquired is not paid until after entry, depends on a number of considerations of which the current rate for Government borrowing is only one. I do not think there is sufficient ground at the present time for revising the rate fixed a year ago.