asked the Minister for Finance if he is aware of the difficulties of local authorities in their efforts to secure loans for the purpose of building houses; and if, in view of the serious shortage of houses in the various cities and towns in the Saorstát, he would bring forward legislation which would enable the Government to advance loans to local authorities for long periods, so that houses could be let at an economic rent.
CEISTEANNA—QUESTIONS. ORAL ANSWERS. - HOUSING LOANS FOR LOCAL AUTHORITIES.
In the present year a Grant in Aid of the Local Loans Fund has been provided up to a limited extent. Many important sanitary schemes have been in abeyance as the only borrowing facilities have been those afforded by the banks, and the short periods of repayment have involved high repayment charges. In availing of the Local Loans Fund in the present year priority must be given to schemes shown to be urgently necessary for waterworks and sewerage. With few exceptions the arrangements made with the banks for housing loans are being maintained. The Minister recently made representations to the banks concerned with a view to removing the difficulties in these cases. It is not feasible at present to make advances out of the Local Loans Fund for housing, but even if the Fund were so available it does not follow that lettings at economic rents would be possible having regard to high costs for wages and materials.
Would the President say has he any idea when the Minister for Finance will be able to let the various authorities know the result of the representations made?
I should say in the course of a couple of months.