§ Mr. Parkasked the Chancellor of the Exchequer (1) if he will arrange for the speedier implementation of the proposals whereby the percentage limit on local authority borrowing from the Public Works Loan Board is to rise over a four-year period; and whether he will reduce this period to two years;
(2) whether he will review the existing restrictions on the availability of Public Works Loan Board facilities to local authorities, with a view to making funds more easily accessible for essential building projects.
§ Mr. CallaghanI shall review this matter before next year's Budget, but in present circumstances I cannot commit myself to providing greater access to the Public Works Loan Board.
§ Mr. Parkasked the Chancellor of the Exchequer whether he will allow local authorities to exceed the present percentage ceiling on their borrowing powers from the Public Works Loan Board in cases where the cost of borrowing on the open market can be shown to be in excess of the cost of borrowing from the Board.
§ Mr. CallaghanNo.