Public Works Loans (Interest)

Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 20th January 1948.

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Photo of Sir Stafford Cripps Sir Stafford Cripps , Bristol East 12:00 am, 20th January 1948

The present rates charged are 2 per cent. for loans of less than five years, 2½ per cent. for loans of five to 15 years and 3 per cent. for loans for 15 years and longer. The rates of interest charged to local authorities are fixed from time to time to correspond broadly with Government borrowing rates for comparable periods.