Public Works Loan Board (Interest Rates)

HC Deb 09 April 1963 vol 675 c119W

Mr. W. Hamilton

asked the Chancellor of the Exchequer if he will take steps to ensure that the rates of interest of the Public Works Loan Board are adjusted more rapidly to changes in the Bank Rate.

Mr. du Cann

Changes in Bank Rate have no direct effect on the Public Works Loan Board rates of interest; these reflect the rates at which local authorities can borrow in the market.