asked the Minister for Local Government whether he has informed the Waterford Corporation that the rate of interest on borrowings from the Local Loans Fund has been increased from 5¼ per cent. to 6 per cent., and, if so, if he will make a statement in the matter.
Ceisteanna—Questions. Oral Answers - Borrowings from Local Loans Fund.
The answer to the first part of the question is in the negative. The second part does not therefore arise.
Can the Parliamentary Secretary say whether he is aware that rumours of such an increase have been circulated?
That seems to be a separate question.
A statement appeared in the Irish Press on the 18th April, 1956, and possibly elsewhere, that the finance officer of Waterford Corporation had said that the Government had informed him that the new interest rate for borrowings from the Local Loans Fund had been increased by ¾ per cent., from 5¼ to 6 per cent. The finance officer, when contacted by phone early on the morning of the 18th April, said that he had been misquoted and that he would try to have the statement corrected.