asked the Minister for Finance the present position in relation to the consideration of external borrowing of money, and the amount and terms at which he considers it desirable to borrow.
Ceisteanna—Questions. Oral Answers. - External Borrowing.
11.
Inquiries are being made but until they are completed I shall come to no decision.
Will the Minister inform the House where these inquiries are being made?
I will not.
Does the Minister not agree that the people of Ireland, who will be asked to repay the money being borrowed to pay for Fianna Fáil blunders, are entitled to know now what price they will have to pay for the Government's blunders?
It is quite usual to seek borrowings abroad for Government purposes, but the places where and the rates at which these borrowings are got are never disclosed in advance.
Surely the Minister would not be damaging the possibility of negotiations by indicating where inquiries are being made?
It is better in these matters not to disclose these things in advance.
Therefore, they have a blank cheque and we are going to be saddled with some irresponsible debt?
State bodies have borrowed money abroad in the past?
Yes.
When have the Irish Government been forced to seek foreign credits before?
Deputy Dillon spent about £7 million worth of them on hair curlers on one occasion.
Quite untrue. When were the Irish Government forced to seek foreign credits before?
£44 million was borrowed in 1948.
As the Taoiseach knows quite well, not one penny of net debt was incurred in that transaction—not one penny, as the Minister and the Taoiseach well know.