Public Works Loan Board

HC Deb 02 December 1958 vol 596 cc108-9W

72 and 73. Mr. Prentice

asked the Chancellor of the Exchequer (1) whether he will take steps to make the resources of the Public Works Loan Board available to local authorities on a much larger scale than at present;

(2) whether he will make a substantial reduction in the rates of interest charged to local authorities for loans from the Public Works Loan Board.

Mr. Amory

The Board lends to local authorities to the extent that they are unable to raise capital in the open market, and its interest rates reflect those prevailing in the market for local authority borrowing, I see no need for any change in these arrangements which fully provide for local authority requirements.