asked the Minister for Finance if it is his intention to extend the facilities for borrowing by local authorities through the medium of the Local Loans Fund; and if he is in a position to indicate if the interest charges on such loans will be restricted to 4 per cent.
Ceisteanna—Questions. Oral Answers. - Local Loans Fund.
In the absence of any indication of what extension of the facilities available to local authorities for borrowing from the Local Loans Fund the Deputy has in mind, I am unable to answer the first part of his question. As regards the second part, it is not proposed in present circumstances to reduce the current rate of interest on advances from the fund.
I would like to ask the Minister whether he received a memorial from Donegal on the subject of the cost of the administration of loans in connection with local boards and on the question of the rate of interest on loans for works carried out by the local boards? Has the Minister received such a memorial?
I am not aware of any specific memorial. No doubt I have received memorials from public bodies at one time or another, all anxious to evade their just obligations to the Exchequer.
Perhaps the Minister would consider the giving of this money on loans at a cheaper rate of interest than he has been doing?
I do recollect receiving ultimata to reduce taxation and also the rate of interest on these loans. I cannot do both.