Local Loans Fund (Interest Rates) (Hansard, 7 June 1961)

HC Deb 07 June 1961 vol 641 c100W 100W

Mr. Gresham Cooke
asked the Chancellor of the Exchequer what are the ruling rates of interest charged to local authorities borrowing from the Local Loans Fund.

§ Mr. Barber
It was provided by a Treasury Minute made on 31st May that loans to local authorities from the Local Loans Fund on and after 3rd June, 1961, until further notice, shall carry the following rates of interest:

Per cent.

Loans for not more than five years 6⅜

Loans for more than five years but not more than fifteen years 6⅜

Loans for more than fifteen years but not more than thirty years 6½

Loans for more than thirty years 6¼

	Per cent.
Loans for not more than five years	6⅜
Loans for more than five years but not more than fifteen years	6⅜
Loans for more than fifteen years but not more than thirty years	6½
Loans for more than thirty years	6¼