§ 29. Mr. Nicholas Wintertonasked the Secretary of State for the Environment whether he will now encourage local authorities to underwrite loans by building societies which are outside their normal lending limits.
§ Mr. FreesonLocal authorities have powers to guarantee building society loans, and the use of these powers is being discussed between the Building Societies Association and the local authority associations.
§ 49. Mr. Charles Irvingasked the Secretary of State for the Environment why he made a further cut in the provision for local authority home loans for 1976–77.
§ Mr. FreesonTo allow for increased expenditure on the purchase and modernisation of old substandard properties by local authorities and housing associations, I have made a corresponding reduction in local authority mortgage lending. There has been no reduction in public expenditure on housing overall, which remains at 25 per cent. above the 1973–74 level.