§ Mr. Urwinasked the President of the Board of Trade what is the rate of interest to be charged on loans in respect of building costs for industrial estates in colliery areas.
§ Mrs. Gwyneth DunwoodyAs my right hon. Friend announced on 14th November, new projects brought into the special development areas may receive loans at a moderate rate of interest. The appropriate rate of interest and other loan terms, such as the possible allowance of an initial period free of any interest payment at all, will be recommended in each case by the Board of Trade Advisory Committee as required by the Local Employment Acts. The effect is currently more favourable than using commercial sources.—[Vol. 754, c. 84–6.]