asked the President if he is aware of the refusal of banks in the Saorstát to give loans to Local Authorities for the purpose of building houses for the working classes; if, in view of this difficulty and the great need for houses, he is contemplating the introduction of legislation which will enable the Executive Council to lend money for this purpose.
CEISTEANNA—QUESTIONS. ORAL ANSWERS. - HOUSES FOR WORKING CLASSES.
I am answering this question for the President. So far as I am aware, the banks generally have co-operated as regards housing by the granting of loans at favourable terms to Local Authorities. In some few instances difficulties appear to have arisen. These cases are under consideration. The final part of the question should be addressed to the Minister for Finance.
Did I understand the Minister to say that the latter part of the question was under the consideration of the Minister for Finance?
Yes.
Is the Minister aware that the banks have announced as a general policy that in future they will not advance considerable sums of their customers' money for the building of houses, and that the people should rather look to the State for that?
The State has already advanced more than half a million.
Has the Minister received any complaints from the Enniscorthy Urban Council to the effect that the banks there refused to advance them any money for the building of houses?
I heard that in the case of the Enniscorthy Urban Council a loan has been refused to it by the National Bank. That refusal appears to be inconsistent with the general policy of the bank in question and with that of the Standing Committee of the banks. The matter, I might say, is being looked into.
Is the Minister aware that the banks have varied the terms of the contract they made with the President about two years ago as to the number of years over which they would allow the loan to be paid back?
I understand it is their general policy to grant a loan for fifteen years, but an exception was made in the case of Wexford for ten years.
We could not get the loan in Wexford for fifteen years.