§ 95. Mr. Doigasked the Chancellor of the Exchequer if he is aware that the Dundee Corporation is now having to pay 8 per cent. on loans for short term borrowing, and that this is costing the equivalent of 7d. on the rates; and if he will make loans available from the Public Works Loan Board at reasonable interest rates for approved essential projects.
§ Mr. CallaghanThe cost of borrowing for short-term periods can be expected to reflect changes in the Bank Rate much more closely than long-term borrowing. As regards access to the Public Works Loan Board, I cannot add to the replies which I gave on 17th December to my hon. Friend the Member for Derbyshire, South East (Mr. Park).