asked the Minister of Housing and Local Government whether, in view of the need for increased amenities on the Harold Hill Estate, Romford, he will reconsider his decision to postpone a grant of £15,000 towards the cost of the establishment of a park and recreation grounds and other open spaces on the estate.

I have had to defer consent to the raising of a loan of £15,000 for this purpose in the, interests of national economy. No question of grant arises.

In reaching that decision, has the Minister taken into account the fact that permission has already been given to raise a loan to develop the land, and that if the land is acquired and there is no development, it will become derelict and virtually useless?

Are we to take it from the right hon. Gentleman's answer that he has now awakened to the fact that there is a diminution in capital investment?