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Mr. Ellis Smith
asked the Minister of Housing and Local Government what were the total debt and debt charges for local government in the years 1938, 1958 and 1964; and what are the estimated figures for 1965.
Mr. MacColl
The figures* for England and Wales are as follows:
| Year | Gross debt at end of year | Loan Charges | ||
| (£ million) | (£ million) | |||
| 1938–39 | … | … | 1,594·7 | 109·4 |
| 1958–59 | … | … | 5,294·1 | 314·2 |
| 1963–64 | … | … | 7,585·4 | 491·7 |
* Source—Epitomes of accounts.
| — | Stoke-on-Trent | Birmingham | ||
| 1938–39 | 1958–59 | 1938–39 | 1958–59 | |
| £ | £ | £ | £ | |
| Gross debt at end of year | 9,124,606 | 39,920,883 | 63,838,929 | 149,636,315 |
| Loan redemption charges(a) | 593,728 | 2,122,644 | 4,465,519 | 9,313,246 |
| Per cent. | Per cent. | Per cent. | Per cent. | |
| Percentage of Loan redemption charges to rates collected | 58·97 | 81·67 | 83·51 | 57·15 |
| — | Manchester | Liverpool | ||
| 1938–39 | 1958–59 | 1938–39 | 1958–59 | |
| £ | £ | £ | £ | |
| Gross debt at end of year | 47,692,901 | 92,138,235 | 67,442,930 | 97,979,784 |
| Loan redemption charges(a) | 3,256,522 | 6,012,906 | 3,942,429 | 5,885,444 |
| Per cent. | Per cent. | Per cent. | Per cent. | |
| Percentage of Loan redemption charges to rates collected | 66·39 | 56·54 | 78·76 | 60·71 |
* Source—Epitomes of accounts.
( a) Includes principal and interest.
It is not possible to give corresponding estimates for 1968–69.