asked the Minister for Local Government if he will indicate the current rate of interest charged to borrowers by each local authority in Ireland for loans under the small Dwellings (Acquisition) Acts.
Ceisteanna — Questions. Oral Answers. - Interest on Loans.
The information sought by the Deputy is not available in my Department. Section 40 of the Housing (Amendment) Act, 1948, provides that the rate of interest on advances is to be not more than one half of 1 per centum per annum in excess of the rate of interest at which the local authority borrowed the money for the purpose of making the advance. The rate of interest on issues from the Local Loans Fund as from 1st January, 1954, to local authorities for the purposes of the Acts is 4¾ per cent. Cork and Dublin Corporations make advances from moneys borrowed from sources other than the Local Loans Fund.