asked the Minister for Finance if he will arrange (1) to have reduced the existing high rates of interest charged to local authorities on loans for house-building; and (2) that charges to be repaid with interest will not become due until revenue from rents is available for this purpose.
Ceisteanna—Questions. Oral Answers. - Housing Loan Charges.
The answer to both parts of the Deputy's question is in the negative. As I pointed out in my Budget statement last year the facilities and subventions provided by the State for housing by local authorities are roughly equivalent to the giving of completely interest-free loans. In other words the borrowers are placed in about the same position as they would be if they got the loans subject only to repayment of the principal involved.