asked the Minister for Local Government whether his attention has been drawn to recent Press reports that the Irish Bankers' Joint Standing Committee have declined to underwrite a loan of £5,000,000, which the Dublin Corporation proposed to float for housing purposes; and, if so, what action, if any, he proposes to take so as to ensure that housing will not be held up or delayed by lack of the requisite moneys.
Ceisteanna—Questions. Oral Answers. - Dublin Corporation Housing Loan.
The Press report to which the Deputy refers was to the effect that the Irish Banks Standing Committee had turned down the corporation's request to underwrite a loan of £5,000,000 and that they would only consider the underwriting of an issue of stock to provide a sum of £2,500,000 instead of the £5,000,000 asked for. I am not at present prepared to make any comment on the accuracy or otherwise of this report. The Deputy may, however, be assured that the position arising out of these negotiations is under full and active consideration by the Government and that an early announcement may be expected of the action proposed with a view to maintaining the Dublin housing drive and ensuring continuity of work thereunder.
Will the Minister say if any consideration has been given by the Government to making money available to the Dublin Corporation for housing purposes at a rate of 2½ per cent. from the £48,000,000 sterling standing to the credit of the Central Bank?
The Deputy may rest assured that all aspects of the position are being carefully examined.
Are the Government directing their attention specifically to that aspect of the situation?
That is a separate question.
Is the Minister satisfied with the position?