§ 91. Sir J. Mellor
asked the Minister of Health why he has, by the Housing (Rate of Interest) Regulations, 1950 (S.I., 1950, No. 1008), authorised local authorities to charge interest at 4 per cent. per annum when they can borrow from the Local Loans Board at 3 per cent., or less.
§ Mr. Bevan
These Regulations prescribe only the rate of interest to be charged on a refund of an improvement grant made under the Housing Act, 1949. 125W This rate of interest is not related directly to the rate at which local authorities can now borrow.