HC Deb 13 November 1961 vol 649 c25W
Mr. Deedes

asked the Chancellor of the Exchequer whether he will make a statement about the rates of interest charged to local authorities borrowing from the Public Works Loan Board.

Mr. Barber

A Treasury Minute made on 8th November, 1961, provides that loans advanced to local authorities by the Public Works Loan Board on and after 11th November until further notice shall carry the following rates of interest:

  • Loans for not more than 5 years, 6⅞per cent.
  • Loans for more than 5 years but not more than 15 years, 6⅞per cent.
  • Loans for more than 15 years but not more than 30 years, 6¾per cent.
  • Loans for more than 30 years, 6¾per cent.

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