asked the Minister for Finance if he is aware that many local authorities, whilst anxious to proceed with sewerage and waterworks schemes, are prevented from doing so because of the high rate of interest charged on loans advanced from the Local Loans Fund, and if, in order to have such necessary work done, he will have a reduction made in the rate.
Ceisteanna—Questions. Oral Answers. - Interest on Local Loans.
The statement made in the first part of the question is not supported by the information at my disposal.
In regard to the second part of the question it would not be possible, as I have already indicated, to undertake a revision of interest rates generally until such time as the terms on which the Government itself can obtain long term loans have been ascertained.
Is the Minister aware that the British Government secured millions in this country on the British War Conversion Loan last year, at three-and-a-half per cent?