asked the Minister for Finance if he will state (a) the number of applications received, subsequent to the introduction of the 5¼ per cent. rate, for loans from the Local Loans Fund and the number of these cases in which a loan granted was at 3¼ per cent. interest, and (b) the number of applications received from vocational education committees, subsequent to the introduction of the 5¼ per cent. rate for loans from the Local Loans Fund and the number of these cases in which a loan was granted at 3¼ per cent. interest.
Ceisteanna — Questions. Oral Answers. - Local Loans Fund.
In the period from the 6th October, 1952, when the 5¼ per cent. rate of interest was fixed, to the 31st December, 1953, the number of loan applications recommended for issue from the Local Loans Fund to public bodies (including vocational education committees) was 345. Of these 165 were in respect of loans under the Labourers Acts, 1883 to 1952, and the Housing of the Working Classes Acts, 1890 to 1952, to which the former rate of 3¼ per cent. continued to be applicable for a period up to the 30th April, 1953.
The number of applications for loans recommended for issue from the fund to vocational education committees in the period from 6th October, 1952, to 31st December, 1953, was nine. The rate of interest of 3¼ per cent. per annum was not applicable to any of those cases.