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Energy Saving Loan Scheme

Volume 928: debated on Monday 21 March 1977

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asked the Secretary of State for Energy what progress he has made in reviewing the Energy Saving Loan Scheme; how many inquiries have resulted in how many loans to date; what is the current rate of interest charged; when he expects to lower the minimum loan to £5,000; what has been the total sum advanced to date; and how many loans are under active negotiation.

The review of the Energy, Savings Loan Scheme, including its extension to the commercial sector, is in an advanced stage and we hope to be able to make an announcement fairly soon. Thirty-four applications have so far been received, of which 21 were subsequently withdrawn. Three loans, totalling £97,000, have been made to date and 10 are currently under consideration. The present rate of interest is 14 per cent.