My right hon. Friend would not give that assurance. The hon. Member knows Government policy on interest rates very well. Any help given to local authority housing should be provided openly in housing subsidies and should not be concealed by means of an artificially low interest rate. However, the hon. Gentleman will be aware that under the Public Works Loans Act, 1964, a local authority will be able to obtain a proportion of its long-term borrowing needs at the Government credit rate rather than the full open market rate.