§ 78. Mr. Prenticeasked the Chancellor of the Exchequer whether he will now take steps to make loans more readily available to local authorities from the Public Works Loan Board.
§ Mr. SimonNo. It is still desirable that local authorities should borrow from the Board only if they cannot raise their requirements from the stock and mortgage markets.
§ 79. Mr. Prenticeasked the Chancellor of the Exchequer what proposals he has for reducing at an early date the rate of interest on loans for over 15 years to
56Wduty; and if he will undertake to look at this problem, which is causing hardship to the industry, with a view to raising the matter at the Montreal Conference.
§ Sir D. EcclesThe figures for which the hon. Member asks are given below. Imports of these types of leather from the Commonwealth and the Irish Republic increased from 819 tons in 1952 to nearly 4,000 tons in 1957. I am aware of the anxiety of a section of the tanning industry about these imports, which are admitted duty-free in accordance with our general policy of duty-free entry for Commonwealth goods. This policy, being the foundation of Imperial Preference, is not one which I would feel justified in raising at the Montreal Conference.
local authorities from the Public Works Loan Board.
§ Mr. SimonI would refer the hon. Member to the reply that my right hon. Friend gave to the hon. Member for Uxbridge (Mr. Beswick) on 22nd July.