§ 68. Mr. Gallacherasked the Chancellor of the Exchequer if he has considered the resolution from the Convention of Royal Burghs asking for a reduction in the interest rates of 4½ to 5½ per cent. which local authorities are, under growing difficulties, having to pay on long-term prewar housing loans from the Public Works Loan Board; and what answer he proposes to make.
§ 69. Mr. Gilzeanasked the Chancellor of the Exchequer what answer he has given to the representations of the Convention of Royal Burghs concerning rates of interest on prewar long-term housing loans made by the Public Works Loan Board.
§ 70. Mr. Willisasked the Chancellor of the Exchequer if he has considered the resolution passed by the Convention of Royal Burghs concerning the rates of interest chargeable to local authorities on long-term prewar housing loans from the Public Works Loan Board; and what answer he proposes to make.
§ Mr. Glenvil HallMy right hon. Friend has taken note of the representations made in this resolution. The question of relief to existing borrowers may arise under the law on the redemption of Local Loans Stock, but it would be premature to hold out hopes.