On behalf of the Minister for Industry and Commerce I am moving for leave to introduce this Bill, the purpose of which is as follows:— A Bill to enable the Minister for Industry and Commerce to guarantee certain classes of loans the application of which is calculated to promote employment in Saorstát Eireann, and to grant or guarantee certain classes of loans the application of which is calculated to promote a reduction in the retail prices in Saorstát Eireann of essential commodities, and to make provision for the application of public monies in or towards the fulfilling of such guarantees and the granting of such loans.
The Government feel that controlling prices is not the way to reduce prices, and the most effective way is to guarantee loans to consumers or purchasers, or a combination of both, who will agree to sell the essential articles at reasonable prices. Hence the last paragraph.