§ 56. Mr. Gibsonasked the Minister of Housing and Local Government and Minister for Welsh Affairs the total interest charge on the cost of building a two-bedroomed house by a local authority in 1951; and what was the figure for 1957.
§ Mr. H. BrookeTaking the average cost in tenders approved during the last quarter of 1951 and 1957 and supposing the money had been raised for sixty years at the Public Works Loan Board rate prevailing at the end of each quarter, the figures would be £1,918 and £4,284 respectively. But since the end of 1952 local authorities have not, in fact, been required to borrow at the current interest rate for the full period of sixty years.