asked the Minister for Local Government and Public Health if he will state (a) the total capital indebtedness of local authorities as at March 31st, 1945, differentiating between county councils, borough councils, urban authorities, town commissioners, mental hospital boards and other local authorities; (b) the total annual charges in respect of the repayment of loans in each case; and (c) the average rate of interest at which such loans were obtained.
Ceisteanna—Questions. Oral Answers. - Indebtedness of Local Authorities.
Particulars of the total capital indebtedness of local authorities as at 31st March, 1945, are in course of preparation and will be sent to the Deputy as soon as they are complete.
The information as to parts (a) and (b) of the question, in so far as it is available in my Department, in respect of the financial year 1943-44, has been compiled in tabular form and will be circulated with the Official Report.
I regret that I am not in a position to give the Deputy the information he requires in regard to average rates of interest. In order to arrive at an accurate figure as to the average rate of interest paid by local authorities it would be necessary to extract particulars of every loan obtained by a local authority which is at present in course of repayment. This would entail a considerable amount of research having regard to the fact that loans outstanding include borrowings incurred as far back as the year 1890. Furthermore, the result obtained would be of little value as a representative figure of the interest rate charged to local authorities over a prolonged period, in view of the frequent fluctuations in interest rates which have occurred since the commencement of the present century, and the lack of uniformity in the amounts borrowed from year to year.
Following are the tabular statements:—
STATEMENT of the total Capital indebtedness of local authorities as at 31st March, 1944.
|
Local Authority |
Balance of loans (including stock issues) outstanding |
|
£ |
|
|
Councils of Counties |
13,920,908 |
|
Committees of Mental Hospitals |
612,554 |
|
Councils of County Boroughs |
*14,895,243 |
|
Urban District Councils |
*5,718,280 |
|
Town Commissioners |
461,798 |
|
Joint Boards for burial, port sanitary and other purposes |
2,404 |
|
Public Assistance Authorities |
90,578 |
|
Harbour Authorities |
*1,839,824 |
|
Total Capital indebtedness |
37,541,589 |
* After deduction of amounts in sinking funds for extinction of debt.
STATEMENT of the total annual loan charges paid by local authorities on foot of borrowed moneys for capital undertakings during the financial year 1943-44.
|
Local Authority |
Total of loan charges paid during year 1943-44 |
|
£ |
|
|
Councils of Counties |
893,410 |
|
Committees of Mental Hospitals |
86,831 |
|
Councils of County Boroughs |
944,052 |
|
Urban District Councils |
437,065 |
|
Town Commissioners |
32,480 |
|
Joint Boards for burial, port sanitary and other purposes |
442 |
|
Public Assistance Authorities |
11,730 |
|
Harbour Authorities* |
— |
* Particulars not available