§ 29. Mr. Hunterasked the Chancellor of the Exchequer what was the total amount of loans to local authorities by the Public Works Loan Board in 1961; and what was the amount of loans this year, at the latest convenient date.
§ Sir E. BoyleDuring 1961 the Public Works Loan Board lent £52.2 million to local authorities. Loans made up to 6th July this year amount to £22.8 million.
§ 30 and 31. Mr. Millanasked the Chancellor of the Exchequer (1) if he will state the rates of interest for longterm borrowing from the Public Works Loan Board from October, 1951, to date;
(2) if he will state the total sums lent by the Public Works Loan Board to local authorities in Scotland in each of the years from 1951 to date.
§ Sir E. BoyleThe following is the Answer:
Public Works Loan Board Rates of Interest for Long-Term Borrowing Date Rate per cent. For loans for more than 15 years October, 1951 (rate operative from January, 1948) 3 8th November, 1951 3¾ 8th February, 1952 4¼ 19th October, 1953 4 3rd June, 1954 3¾ 28th February, 1955 4 8th July, 1955 4¼ 11th August, 1955 4½ 7th September, 1955 5 13th January, 1956 5¼ 23rd March, 1956 5½ 19th October, 1956 5¾ 15th February, 1957 5½ 12th July, 1957 5¾ 27th September, 1957 6¾ 24th February, 1958 6¼ 22nd August, 1958 6 114W
Rate for loans for more than 30 years 24th October, 1958 … 5¾ 28th January, 1960 … 5⅞ 14th July, 1960 … 6 17th August, 1960 … 6⅛ 31st May, 1961 … 6¼ 3rd August, 1961 … 7 8th November, 1961 … 6¾
Yearly Totals of Loans made by the Public Works Loan Board to Local Authorities in Scotland £ million 1951–52 … 48.9 1952–53 … 51.6 1953–54 … 40–2 1954–55 … 33.6 1955–56 … 44–2 1956–57 … 11.0 1957–58 … 10–0 1958–59 … 7–0 1959–60 … 5.2 1960–61 … 4.1 1961–62 … 5–1 April,1962–6th July, 1962 … 1–7