Local Authority Loans (Interest Rates)

HC Deb 12 July 1957 vol 573 c73W

Mr. Arbuthnot

asked the Chancellor of the Exchequer whether he will make a statement about the rates of interest chargeable to local authorities borrowing from the Local Loans Fund.

Mr. P. Thorneycroft

A Treasury Minute made today provides that loans advanced to local authorities from the Local Loans Fund on and after 13th July, 1957, until further notice shall carry the following rates of interest:

	Per cent.
Loans for not more than 5 years	5¾
Loans for more than 5 years but not more than 15 years	6
Loans for more than 15 years	5¾