§ Mr. Milneasked the Chancellor of the Exchequer what was the amount paid to the Public Works Loan Board by local authorities in interest charges each year between 1951 and 1963; and what was the rate of interest in each of these years.
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§ Mr. MaudlingThe following are the figures:
Year Average rate on all outstanding loans Interest paid each year £ s. d. £m. 1951–52 … 3 2 4 48 1952–53 … 3 3 8 61 1953–54 … 3 9 11 80 1954–55 … 3 9 5 89 1955–56 … 3 10 0 103 1956–57 … 3 12 10 109 1957–58 … 3 17 1 123 1958–59 … 3 16 0 122 1959–60 … 3 18 1 123 1960–61 … 3 17 1 119 1961–62 … 3 18 10 122 1962–63 … 3 18 7 115