To ask the Secretary of State for Northern Ireland what assessment he has made of whether the transfer of responsibilities for local authority lending from his Department to the Public Works Loan Board would (a) result in savings to public funds and (b) provide a more effective service. [37197]

Loans to local authorities in Northern Ireland are made from the Northern Ireland Consolidated Fund by the Department of Finance and Personnel on similar terms to those which are extended to local authorities in Great Britain through the Public Works Loans Board. The administrative charges to local authorities in Northern Ireland are in most cases the same as those levied in Great Britain. In a minority of cases the Northern Ireland charges are less.It is appropriate that the scheme continues to be administered locally along with other transferred matters.