The housing question

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Monograph

Identifikator:: 1023104237

URN:: urn:nbn:de:zbw-retromon-61777

Document type:: Monograph

Title:: The housing question

Place of publication:: London

Publisher:: George Allen & Unwin Ltd.

Year of publication:: 1922

Scope:: 1 Online-Ressource (125 Seiten)

Collection:: Economics Books

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the housing question 33 the pivotal Housing debate on List July, 1921, in the Commons :— “ The fact remains that we have now a permanent burden for 60 years of ten millions a year on our taxes in order to provide these houses. ... I say we have incurred a commitment of £600,000.000 to provide these houses. . . ." Even so good a Coalitionist as Mr. Holmes—a Housing expert—could not swallow this. He inter rupted Sir Alfred Mond thus :— Mr. Holmes : " May I ask the Right Hon. Gentleman to clear up one point ? He said that it meant a sum of £600,000,000. I think his announcement was that 1 76,000 houses had been built at an average cost of £1,000 each. That comes to £176,000,000. How does the Right Hon. Gentleman arrive at a total of £600,000,000 ? " Sir A. Mond : “ There is a loss of £10,000,000 a year for 60 years. It will not be quite £600,000,000. As the Hon. Member knows, some of these loans are of shorter date than others. I am not going into details, but roughly V may be estimated that you would spend £10,000,000 a year for 60 years. That is not Capital.” Let us apply Sir Alfred Mond’s curious reasoning to the cost of the war. About six thousand millions it cost and its annual interest is some three hundred millions a year. Suppose the debt is paid off in a hundred years— we shall be very fortunate if it jg he would no doubt tell us that the cost of the war worked out to thirty thousand million pounds. Is that the new arithmetic for which we are indebted to a Government of business men ? “ A permanent burden for 60 years of ten millions a vear.” When he tried to make the House of Com- c

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