1.—15

(/) Indebtedness and Annual Loan Charge The following table shows the net indebtedness of boroughs on account of loans over the period under review. As with counties, the period of maximum indebtedness was in the late 1920'5, and there has been a relatively steady decline since, although in the early years after the depression there was some increase:— Table showing the Amount of Net Indebtedness on Account of Loans of Borough Councils from 1924- 25 to 1943-44 £ £ 1924-25 .. .. 23,531,784 1934-35 .. .. 26,773,188 1925-26 .. .. 25,221,986 1935-36 .. .. 26,760,221 1926-27 .. .. 26,728,048 1936-37 .. .. 26,406,367 1927-28 .. .. 27,834,299 1937-38 .. .. 26,584,300 1928-29 .. .. 28,055,389 1938-39 .. .. 26,619,810 1929-30 .. .. 27,520,954 1939-40 .. .. 26,709,422 1930-31 .. .. 27,813,574 1940-41 .. .. 26,420,581 1931-32 .. .. 27,563,485 1941-42 .. .. 25,907,370 1932-33 .. .. 27,440,209 1942-43 .. .. 25,253,321 1933-34 .. .. 26,985,761 1943-44 .. .. 24,424,814 Boroughs have also raised considerable sums through the . State Advances Corporation, as will be seen from the following table : — Table showing Loans to Borough Councils from State Advances Corporation from 1924-25 to 1943-44 £ £ 1924-25 .. .. 500,169 1934-35 1925-26 .. .. 66,387 1935-36 1926-27 .. .. 14,110 1936-37 1927-28 .. .. .. 1937-38 1928-29 .. .. .. 1938-39 .. .. 392,790 1929-30 .. .. 80 1939-40 .. .. 238,905 1930-31 .. .. .. 1940-41 .. .. 7,145 1931-32 .. .. 72,350 1941-42 .. .. 25,000 1932-33 .. .. 46,000 1942-43 .. 1933-34 .. .. .. 1943-44 The actual loan charges over the period have been relatively steady, although, as shown in the the following table, the amounts paid out by way of interest have tended to fall and the amounts from sinking fund to increase. The fall in the interest, of course, was influenced by the statutory reduction of interest during the depression period :—

Table showing Total Annual Charges of Borough Councils from 1924-25 to 1943-44

59

Year. Interest. Sinking Fund. Total. £ £ £ 1924-25 * * 1,681,661 1925-26.. .. .. * * 1,819,606 1926-27 .. .. .. * * 1,944,636 1927-28.. .. .. * * 2,092,539 1928-29 .. .. .. * * 2,138,764 1929-30.. .... * * 2,105,449 1930-31.. .... * * 2,168,726 1931-32.. .. .. * * 2,196,122 1932-33.. .... * * 2,234,280 1933-34.. .... * * 1,999,539 1934-35 .. .. .. 1,373,433 594,621 1,968,054 1935-36 .. .. .. 1,346,295 614,515 1,960,810 1936-37.. .. .. 1,326,542 659,065 1,985,607 1937-38.. .. .. 1,328,362 710,757 2,039,119 1938-39.. .. .. 1,331,176 766,992 2,098,168 1939-40.. .. .. 1,323,629 827,797 2,151,426 1940-41 .. .. .. 1,274,467 894,923 2,169,390 1941-42 .. .. .. 1,240,663 947,926 2,188,589 1942-43 .. .. .. 1,207,795 992,109 2,199,904 1943-44.. .. .. 1,154,762 1,032,893 2,187,655 * Not available.