§ 75. Mr. Snowasked the Chancellor of the Exchequer if he will make a statement on the effects of his decision to raise the interest rates of the Public Works Loan Board.
§ Mr. CallaghanI would remind my hon. Friend that only the rates for last resort loans from the P.W.L.B. were raised. These loans are likely to account for no more than £10 million of the total of about £300 million which the Board now expect to issue in the current financial year. I would not therefore expect the change in rates to have any significant effect on authorities' costs.