asked the Minister for Local Government if he will state what proportion of the rent of 40/- a week for a local authority house is attributable to loan charges, assuming that the house costs £1,500 and that the capital has been borrowed at 5 per cent. and is repayable over a period of 35 years.
Ceisteanna—Questions. Oral Answers. - Local Authority Housing Loan Charges.
The loan charges on a capital expenditure of £1,500 borrowed on the terms indicated would amount to 35/1 a week. An inclusive rent of 40/- a week in respect of a local authority house costing £1,500 would include a sum of approximately 10/7 to cover payment in respect of rates and expenditure on maintenance and administration, leaving a sum of approximately 29/5 towards the payment of loan charges.