asked the Minister for Agriculture if, in view of the urgent need for the expansion of the agricultural industry, he will take steps to provide more adequate credit facilities to farmers for the purchase of stock, implements, seeds and fertilisers and to arrange also for the improvement of land and buildings.
Ceisteanna—Questions. Oral Answers. - Credit Facilities for Farmers.
I presume the Deputy is aware of the substantial credit facilities already available for the purchase of live stock and agricultural requisites. These are constantly under review and should it appear at any time that there is a pressing need for their extension, I would be prepared to go as far in that direction as our resources would permit.
As regards the latter part of the question, the farm improvements scheme provides grants for the improvement of land and the farm buildings scheme will provide grants for the construction and reconditioning of farm buildings, as soon as the necessary building materials are in sufficient supply to enable operations under the scheme to be commenced.
The possibility of developing hire purchase facilities for the purchase of farm machinery is being examined and I hope shortly to be able to reach a final decision on this matter.
Is the Minister aware that these are merely new credit facilities which the farmer who requires credit can avail of? Is the Minister further aware that the cost of credit to the farmers is altogether excessive? The farmer will get on money he deposits in the bank one per cent.; if he requires to borrow money from the bank he will have to pay at least 4½ per cent., and in many cases much more.
If the Deputy will bring to my attention the case of any creditworthy farmer who is unable to get credit, I shall be very pleased to go into the merits of the case with him.
I will be glad to bring thousands of such cases to the Minister's notice.
For whom the Deputy would be prepared to go bail?
Does the Minister think that credit should be allowed only to those who do not require it—that is, those who have money in the bank or those who have adequate and ample securities?
I understand the difficulty and I sympathise with the Deputy in his solicitude for people who are labouring under the disabilities he has in mind. But I rather imagine this is a matter which he and I could discuss together elsewhere much more profitably than across the floor of the House.
I thought this was a deliberative Assembly.
Might I ask the Minister is he aware that he was put into office and kept in office by a Party who promised free credits to everyone for everything?
Oh, glory be to God, I trust the Deputy will not disturb his circulation. The Ceann Comhairle must excuse me if I tremble when the Deputy shakes his gory locks at me.