asked the Minister for Finance if he will consider the advisability of placing funds in the hands of the Board of Works to enable farmers to borrow money at a low rate of interest for drainage and other improvements on their lands.
CEISTEANNA.—QUESTIONS. [ORAL ANSWERS.] - LOANS FOR FARMERS.
Advances of the kind referred to by the Deputy are made from the local loans fund, and reference to the Estimates will show that provision to the extent of £107,000 is being made in the current year as a grant in aid of the Fund to enable it to make such advances.
Can the Minister say what rate of interest will be charged?
I am afraid that I have not any information on that subject. But I should say that the extra cost of the interest that the Government have to pay would have a bearing upon the rate of interest that would be charged. I do not think it likely it would be possible to make issues from this fund at the pre-war rate of interest, but I would undertake to make inquiries into the matter.