Public Works Loan Board

HC Deb 09 December 1976 vol 922 cc353-4W

Mr. Sillars

asked the Chancellor of the Exchequer by how much the Public Works Loan Board rate has increased over the past 12 months; and if he is able to estimate the effect of the increase in the total loan charges paid by local authorities generally, and on London, Birmingham, Glasgow and Edinburgh in particular.

Mr. Denzil Davies

The Public Works Loan Board rate for quota loans to local authorities repayable by equal instalments of principal over a period of 10 years was 12¾ per cent. on 27th November 1975 and has been 14¾ per cent. since 27th November 1976. It is not possible to make any reliable estimate of the effect of the increase on total loan charges paid by local authorities.