Orders of the Day — Public Works Loans Bill

Part of the debate – in the House of Commons at 12:00 am on 13 May 1966.

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Photo of Mr Brian O'Malley Mr Brian O'Malley , Rotherham 12:00, 13 May 1966

I had a similar difficulty in studying the figures. It might be helpful if I explained what the situation seems to be. Assuming that a local authority has a total capital expenditure in a year of £100,000, obviously 30 per cent. is £30,000. But for the purpose and method of calculation the Board, in its circular to the local authorities, did not use the figure of £100,000, but the figure of £70,000—which is £100,000 minus 30 per cent. The quota is, therefore, three-sevenths of that 70 per cent., which is £30,000 and still 30 per cent. of £100,000.