asked the Minister for Finance whether the Government has earmarked sufficient moneys for the current financial year to enable local authorities to proceed expeditiously with their housing programmes; if he will state the amount of such moneys, and if he will make a statement on the matter.
Ceisteanna—Questions. Oral Answers. - Housing Programme.
As I indicated in the course of my Budget statement, the overall capital requirements of the State and other public bodies for the year 1956-57 have been settled at a gross total of £43,500,000. This total includes a provision of £5,550,000 for advances from the Local Loans Fund in respect of housing and, so far as local authorities who normally borrow from the fund are concerned, the provision made should suffice to meet essential needs.
The provision of £5,550,000 includes, exceptionally, an amount of £1,000,000 for advances to Dublin Corporation in respect of Small Dwellings Acts financing, of which £500,000 has already been advanced. In addition, the Government have undertaken, as previously announced, to come to the aid of the corporation should they not be able to raise independently a further £3,000,000 of capital for housing and ancillary services.
As I emphasised when introducing the Vote on Account and again in the Budget statement, it has had to be assumed in planning capital requirements that the public will increase their savings to a significant degree. I am confident that this hope will be realised and that we will come through the present period of scarce and dear capital without any interruption of our programme of national development.
Is the Minister satisfied that sufficient funds are available to the Exchequer to cater in the current financial year for all the requirements of local authorities in respect of borrowings from the Local Loans Fund? That is the information I am seeking.
If the Deputy had appreciated my reply, he would realise that I said I am confident that the public savings would respond and rise to a degree to enable such an eventuality to occur.
The question I asked the Minister was whether or not sufficient money is available at the present time, without contemplating any further savings or the obtaining of further moneys from the public. Is there sufficient money at present to carry out the housing programme in the current financial year?
The capital programme of any Government can only be carried out as a result of the savings of the people.
Question No. 25.