§ Mr. Pike
asked the Secretary of State for the Environment if he will give the total level of loan charges for local authority housing in England charged to local authority housing revenue accounts; and what the estimated effect of an increase of one per cent. or two per cent. would be on these loan charges.
§ Mr. Park
asked the Secretary of State for the Environment if he will give the total level of loan charges for English local authority housing revenue accounts; and if he will estimate the effect of a ½ per cent., 1 per cent. and 2 per cent. increase and decrease in interest rates on these loan charges.
§ Sir George Young
Based on the latest available information provided by local authorities, the total loan charges (interest charges and capital repayments) following housing revenue accounts of local authorities in England in 1983–84 was £2,829 million.
Following are estimates of the possible impact on the 1983–84 interest charges which would be brought about in a full year by changes in both short and long-term interest rates:
Increase or decrease per cent. Change in interest charges to the HRA £ million 2 175 1 85 ½ 45