National Loans

Part of Orders of the Day — Ways and Means – in the House of Commons at 12:00 am on 29 November 1967.

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Photo of Mr Terence Higgins Mr Terence Higgins , Worthing 12:00, 29 November 1967

I am sorry that I did not make myself clear. Suppose they borrow next April at a certain rate and then a year later the rate has changed, the loan which they took next April will not then have its rate altered in the light of current circumstances? Is that correct? The rate they are actually charged is the rate at the time they take the loan from the National Loans Board and they will continue to be charged that rate until such time as they repay the loan?