THE  HOUSING  QUESTION

35

sewers,  and  architect’s  fees.  Assume  the  rate  of  interest ­
  at  5  per  cent,  (it  will  almost  certainly  fall  below
this).  Add  f  per  cent,  sinking  fund.  Loan  charges
will  thus  be  £33  a  year.  Assume  rent  so  low  as  8s.  a
week.  The  charge  to  be  added  for  repairs,  voids,  and
management  will  then,  by  statutory  regulation,  not
exceed  2s.  a  week,  or  £5  a  year.  The  balance  sheet  is

then  as  follows  :—

Income.

Expenditure.

£  s.  d.

£  s-  d -

Rent  (at  8s.  a  week)  21  o  o

Loan  Charges  ...  33  0  0

Penny  rate,  say  ...  4  0  0

Repairs,  voids.

“  Loss  "  falling  on

management  ...  500

the  Exchequer  13  0  0

£38  0  0

0
0
00
CO

The  annual  loss  above  is  £13  os.  od.  The  Minister
of  Health,  whenever  he  refers  to  it,  calls  it  £60  a  year
(in  House  of  Commons,  nth  May,  1921,  and  again  on
nth  August,  1921).  Why  ?  To  frighten  the  House
of  Commons  and  the  country,  and  to  persuade  them  to
break  their  solemn  election  and  parliamentary  promises
that  they  will  properly  re-house  the  poor.
Suppose  the  Government  were  to  carry  out  their
promises  and  build  all  the  houses  needed.  This  number ­
  was  estimated  by  Local  Authorities  at  911,000
throughout  Britain.  This  would  mean  building  another
735,000.  The  annual  loss  on  these,  if  their  production
were  spread  over  a  number  of  years  and  the  pace  were
not  forced,  would  be  £9,500,000  a  year.  A  country