asked the Minister for Finance if, as a stimulus to production, he will consider suggesting to or arranging with the Irish Agricultural Credit Corporation that it will make loans available to Irish farmers at the same rate as paid by the Bank of England for Irish money, namely, ½ per cent.
Ceisteanna—Questions. Oral Answers. - Loans to Irish Farmers.
The fixing of the terms on which loans are made available by the Agricultural Credit Corporation is a matter entirely for the board of the corporation. The Minister for Finance has no function in the matter.
The suggestion that Irish money which would otherwise be available for lending to Irish farmers is being lent to the Bank of England is completely erroneous.
Would the Minister even suggest to the Agricultural Credit Corporation the idea embodied in my question?
No. The Dáil has very definitely placed a limitation by legislation upon the Minister's powers in this matter and I will not exceed them.
Would the Minister even give vent to the opinion that the rate of interest at present charged by that body is unduly high and does not in fact constitute a facility to the farming community?
That is not my function and I keep within my own responsibilities.