§ 65. Mr. Grantasked the Minister of Housing and Local Government why, in view of the shortage of housing in Greater London, he has reduced the allocation of money to the Greater London Council for its home loans scheme.
§ Mr. GreenwoodI would refer the hon. Gentleman to my reply to Questions by the hon. Member for Bromley (Mr. Hunt) and other hon. Members on 20th June.
The sum of £50 million included in the Greater London Council (Money) Act, 1967 is the maximum amount which the Council may borrow for the purpose of home loans and certain other purposes. The amount which they can lend for house purchase has been decided in the light of the overall total available for lending for this purpose by local authorities generally, that is to say £130 million.—[Vol. 748, c. 209–10.]