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Housing Loans (Interest Rates)

Volume 645: debated on Tuesday 25 July 1961

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22.

asked the Minister of Housing and Local Government and Minister for Welsh Affairs what additional help he will give local authorities to offset the latest increase in interest rates on public works loans for housing purposes and on loans to house buyers affected by the rise in interest rates.

It is not Government policy to insulate housing from the market cost of borrowing.

That is no help at all. Is not this the fourth increase in a series? Is the Minister aware that, because of the resultant high rents, many people living in tragic housing conditions are having to refuse council houses and, indeed, in certain cities even with Tent rebate schemes the top fifteen or twenty with priority on the list are having to forgo their chances of a house.

Certainly no one in the borough which I represent, where there is an effective differential rent scheme, ever has to refuse accommodation offered because the rent is too high.