§ Mr. Hooleyasked the Chancellor of the Exchequer if he will state the amount of borrowing by local authorities in England and Wales during the financial year 1967–68 from the Public Works Loans Board for housing, the rates of interest payable, the proportion this represented of total local authority borowing for housing in that period, and the comparable figures for 1968–69 as accurately as they can be estimated.
§ Mr. TaverneAlmost all local authority borrowing from the Public Works Loans Board is for loan pools and not for identifiable purposes. Total borrowing by local authorities in England and Wales from the Board in 1967–68 amounted to £379 million, and interest rates varied between 5⅝ and 7½ per cent. To date this year these authorities have borrowed about £200 million from the Board at rates varying between 7⅜ and 7⅞ per cent.