§ Dr. Mawhinneyasked the Chancellor of the Exchequer what his estimate is of the savings in interest repayments by district councils, county councils and metropolitan councils which would occur 247W if the minimum lending rate was reduced by 1 per cent.
Mr. BittenThe effect of a change in the MLR on interest payments by local authorities depends on how other interest rates react and how the economy in general and local authorities react to the changes in interest rates.