asked the Minister for Agriculture and Fisheries if he will arrange for the establishment of a national disaster fund to meet losses arising from unusual natural hazards and to bring relief to farmers if serious destruction should result from exceptional natural occurrences; if he considers that such a disaster fund is necessary; and if he has made any inquiries in other countries as to what precautions are taken to meet such contingencies.
Ceisteanna—Questions. Oral Answers. - Farming Disaster Fund.
57.
No difficulty arises in practice in taking prompt and special measures to cope with serious contingencies of this nature. This year, for example, because of losses of livestock and poor growth of grass, due to the prolonged bad weather, I arranged with the ACC for the issue of interest-free loans for the purchase of nitrogen, and for an instalment purchase scheme for livestock at a low rate of interest. A special fund would not, in my opinion, enable more effective action to be taken than is, in fact, taken when conditions so require.
If we can come to the aid of the Indians, the Chinese and various people in the world, surely we should also come to the aid of Irish people who have suffered?
Does the Deputy object to that?
I have, too. As I said in my reply, I have introduced a scheme whereby farmers who have suffered stock losses can avail of the facilities of the Agricultural Credit Corporation on very favourable terms.
Oh, now; where is the money?
What, in fact, will the interest be?
On the hire purchase?
Yes.
About 2½ per cent.