Cottage Property (Loans).

Oral Answers to Questions — Housing. – in the House of Commons on 5th July 1922.

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Photo of Mr Aneurin Williams Mr Aneurin Williams , Consett

35.

asked the Minister of Health what proportion in the value of cottage property erected by public utility societies can now be borrowed from Government sources; and whether his attention has been called to the great advantages which would result from making that proportion as large as is consistent with security against loss of public money?

Photo of Mr John Gilmour Mr John Gilmour , Glasgow Pollok

In cases where the scheme of a public utility society is approved by my right hon. Friend and ranks for subsidy, the Public Works Loan Board have power at present to advance money up to 75 per cent. of the cost of the scheme as approved. For schemes not under subsidy the proportion is two-thirds; that being as much as in the experience obtained can safely be advanced on the security.

Photo of Mr Aneurin Williams Mr Aneurin Williams , Consett

Is the hon. Gentleman aware that very much more than that is advanced in foreign countries on this security?

Photo of Sir Alfred Mond Sir Alfred Mond , Swansea West

If the hon. Member can give me any information on that subject, I shall be much obliged.