§ 74. Mr. Sparksasked the Chancellor of the Exchequer at what rate of interest the Public Works Loan Board advanced loans to local authorities for housing
1. RATES OF INTEREST CHARGED BY THE PUBLIC WORKS LOAN BOARD FOR LOANS TO LOCAL AUTHORITIES FOR HOUSING AND OTHER PURPOSES — For Loans for 20 years For Loans for 60 years 1951 Per cent. Per cent. 1st January to 9th November … … 3 3 10th November to 31st December … … 3¾ 3¾ 1958 1st January to 24th February … … 6¾ 6¾ 25th February to 22nd August … … 6¼ 6¼ 23rd August to 24th October … … 6 6 25th October to 31st December … … 5⅞ 5¾
2. TOTAL INTEREST PAYMENTS BY A LOCAL AUTHORITY TO THE PUBLIC WORKS LOAN BOARD ON THE ASSUMPTION OF REPAYMENT BY HALF-YEARLY ANNUITIES — On a Loan of £1,750 On a Loan of £2,500 Repayment over 20 years Repayment over 60 years Repayment over 20 years Repayment over 60 years 1951 £ £ £ £ At an interest rate of— 3 per cent. … … … … 590 2,034 843 2,906 3¾ per cent. … … … … 753 2,662 1,076 3,803 1958 At an interest rate of— 6¾ per cent. … … … … 1,465 5,472 2,092 7,817 6¼ per cent. … … … … 1,340 4,980 1,914 7,114 6 per cent. … … … … 1,278 4,736 1,826 6,767 5⅞ per cent. … … … … 1,248 — 1,783 — 5¾ per cent. … … … … — 4,496 — 6,422