asked the Minister for Industry and Commerce if he will state (a) the amount of interest paid by Bord na Móna for money advanced to it for the years 1951-52 and for 1952-53, and (b) the amount of capital repayments for each of the years mentioned.
Ceisteanna—Questions Oral Answers. - Bord na Móna Interest Payments.
Interest payments by Bord na Móna in the years referred to were as follows: 1951-52, £13,441 17s. 9d.; 1952-53, £48,121 16s. 10d. For the first year mentioned the payment relates solely to interest on advances originally made to the Turf Development Board, Limited, the liability for which was assumed by Bord na Móna. The payments made in 1952-53 include payments in respect of advances to Bord na Móna for their first development programme.
The amounts of capital repaid in these years were as follows: 1951-52, Nil; 1952-53, £2,548 5s. 6d. The payment made was in respect of advances made to the Turf Development Board, Limited.
As I have often observed, it is a disgrace to have to pay that amount of money in interest on loans for developing our turf resources.
If the Deputy can tell me how he can borrow money without paying interest, I shall be glad to hear it.
I am not going to discuss the matter across the House now, but it is time we took note of it.