asked the Minister for Agriculture if, in making loans available for the purchase of farm implements, preference will be given to persons who are prepared to use the implements for hire so as to assist farmers whose holdings are too small to permit them to acquire modern machinery, and also if he will consider the introduction of a hire-purchase scheme as an alternative to requiring additional guarantors.
Ceisteanna—Questions. Oral Answers. - Purchase of Farm Implements.
asked the Minister for Agriculture if, in addition to credit facilities at present available, consideration has been given to the desirability of introducing a scheme by which farmers with limited capital could purchase first-class cows and in-calf heifers on a hire-purchase system or alternatively lease such cows from his Department.
Mr. Walsh
With your permission, a Chinn Chomhairle, I propose to take Questions Nos. 42 and 43 together.
I cannot quite see the point of the Deputy's suggestion that preference be given to one particular class of applicants for loans. All applicants are dealt with on the same basis. I am not prepared to introduce hire-purchase arrangements for either machinery or live stock. I am satisfied that such arrangements would present great practicable difficulties and would certainly be no more advantageous than the existing loan facilities.
It would not be possible for my Department to operate a scheme for the leasing of cows.
Is the Minister aware that it is desirable to ensure that persons who are prepared to use tractors and other agricultural implements for the benefit of small farmers in their districts should be facilitated in regard to loans of this nature inasmuch as the giving of loans to such farmers to purchase those implements would benefit a large number of small farmers who have not the necessary finance to purchase such machinery themselves, and the amount of work on whose farms would not, from the economic point of view, justify the purchase?
Mr. Walsh
There is no objection to any person getting a loan for the purpose of purchasing a tractor provided it is going to be used on agricultural work. That is the class the Deputy has referred to. There is no difficulty whatever. The conditions are two solvent securities.
In regard to the question of solvent securities for hire purchase, does the Minister not realise that there are many people who would prefer to have their loans on the security of the machinery to be purchased rather than ask their neighbours to go security for them which is often a very embarrassing request to make?
Is the Minister aware that Deputy Cogan voted last night for an increased rate of interest on loans to farmers?(Interruptions.)