Hon. J. L. ILSLEY (Minister of Finance):
Mr. Speaker, on the orders of the day yesterday the hon. member for Temiscouata (Mr. Pouliot) asked when the publications regarding housing will be ready for distribution, and also asked what was going on in regard to the government's housing policy.
All parts of the National Housing Act, except part IV which relates to home improvement and home extension loans, were proclaimed on January 18, of this year. While conditions are not altogether propitious for home building because of wartime scarcities of labour and materials, it was considered desirable that the lower interest rates and the higher percentage loans provided under the act should be made available as soon as possible for those who are able to build. Temporary limits have been placed on the value of single dwellings and apartment blocks that may be financed under the act in order to use scarce labour and materials to best advantage in supplying additional housing. In the ease of single dwellings these limits are: $6,000 for a single house with one or two bedrooms, $7,000 for a house with three bedrooms, and S8,000 for a house with four or more bedrooms.
As hon. members are aware, loans under parts I and II of the housing act are joint loans, twenty-five per cent being furnished by the government and seventy-five per cent by approved lending institutions. To date twenty-eight lending institutions-including insurance, trust and loan companies and mortgage institutions-have signed agreements with the government and 817 applications for
housing loans submitted through them have been approved by the national housing administration. An additional 256 applications have been received and are in process of being investigated. On the average about seventeen applications are being received daily.'
Part IV of the National Housing Act, relating to home improvement and home extension loans, is not being proclaimed for the time being because it is considered that the limited supplies of labour and materials which are available can be used to better advantage in the provision of additional housing than in the repair and modernization of existing houses.
I regret that the hon. member for Temiscouata has had difficulty in procuring literature about the housing act. The regulations and the act have, of course, been available for some time in both English and French and can be obtained on application, but it is recognized that explanatory material is also necessary and several booklets are now in course of preparation. I understand that the English version of the first of these booklets, which deals with loans to home owners, will be available within the next day or two, and that the French version is in type and should be printed within two weeks.
CANADIAN ARMY disturbances at drummondville and
Subtopic: STATEMENT AS TO OPERATIONS UNDER THE NATIONAL HOUSING ACT