Part of Oral Answers to Questions — Scotland – in the House of Commons at 12:00 am on 18 March 1964.
We are only too well aware of Government policy on interest rates. Is the hon. Gentleman aware that in 1963 Scottish local authorities paid no less than £10,500,000 more in interest than they would have paid if the rate had been the same as in 1951 when his party took office? Will he seriously consider whether housing subsidies in Scotland are adequate to meet the high interest rates which local authorities are called upon to pay?