§ Mr. Barry Jonesasked the Secretary of State for the Environment (1) if the £15 million subsidy for the building 324W societies will be shared amongst nonmembers of the Building Societies Association;
(2) if building societies which offer interest rates above the base rate will be rendered ineligible for the anticipated share of the £15 million subsidy.
§ Mr. ChannonThe temporary bridging grant is available to any building society, whether or not it is a member of the Building Societies Association, provided it satisfies the criteria for payment of grant. In order to qualify a society must have an investment rate of not more and not less than 6.75 per cent. net for ordinary paid-up shares for at least three months ending between 31st July 1973 and 30th November 1973.