asked the Minister for Finance if he is aware that loans advanced by the Agricultural Credit Corporation during portion of the year 1940 were charged at the rate of 6 per cent., an increase of 1 per cent. over the rate which previously and subsequently obtained, and as this obviously is a hardship on those who had to borrow during that period, and a continuance of this charge does not appear to be justified, he will make the necessary representations to the corporation to have the matter reconsidered with a view to an adjustment of the rate.
Ceisteanna—Questions. Oral Answers. - Interest-Charge on Agricultural Loans.
As indicated on previous occasions in the Dáil, a Minister for Finance cannot undertake to answer Parliamentary Questions concerning the administration of the Agricultural Credit Corporation. The corporation is not a Government Department but a limited liability company, operating under the Companies Acts, and its affairs are (subject to any statutory restrictions) managed at the discretion of a board of directors.
Does the Minister say that the Government has no concern as to the amounts being charged for credit given to farmers?
That is quite a separate question.
Is the Minister not prepared to make representations to the corporation with regard to the charges made on loans that were advanced during this short period?
I think it would be better if the Deputy would put down this question again when the Minister for Finance is here.
Is it not a fact that the Minister for Finance said, only last week, that there was plenty of cheap money available if it were required?
I only want the Minister to make representations to the corporation. I quite appreciated the fact that he had no discretion in the matter.