§ 40. Mr. Spriggsasked the Secretary of State for the Environment how many representations have been made to his Department about the question of mortgage interest rates, and of dealing with such interest rates on the same basis as rents; whether the Government intend to intervene in order to secure a general reduction of both rents and mortgage interest rates in the near future; and if he will make a statement.
§ Mr. FreesonI have received about 250 representations on mortgage interest rates. A substantial proportion have referred to the freeze on rent increases. The Government are in consultation with the Building Societies Association both about the shorter-term and the longer-term problems of house purchase finance. My right hon. Friend is making a statement on the immediate situation this 159W afternoon. The rent freeze lasts until the end of 1974. In the meantime the Government are undertaking a review of the law relating to rents and housing subsidies.