HC Deb 16 February 1978 vol 944 c302W
Mr. Joseph Dean

asked the Secretary of State for the Environment what sums of central Government money would be needed to allow local authorities to bring their mortgage rates down to the level of building society rates.

Mr. Armstrong

We estimate the total cost of such a reduction for all authorities as approximately £55 million to £65 million each year at current interest rates. The Green Paper proposal was for costs to be met from the rate fund.