§ 32. Lord H. CAVENDISH-BENTINCK
asked the Minister of Health whether he has considered the cases of those public utility societies which, for the purpose of providing houses for the poor, limit the interest payable on their shares and loan stock to two and a-half or three per cent.; and whether, in view of the fact that the whole of the capital of these societies has to be raised by subscription, he will consider making an exception in their favour when the housing subsidy is reduced in October, 1927?
I am aware of the efforts which are being made by various philanthropic bodies to provide houses at low rentals for the poorer section of the community, and I am of opinion that these efforts are worthy of every encouragement. I have no power to make such an exception as my Noble Friend contemplates; I should anticipate, however, that the reduction of subsidy will result in a reduction of prices so 2252 that the activities of these bodies will be facilitated rather than prejudiced.