asked the Minister for Industry and Commerce if he is aware of the continued unavailability of house purchase loans from building societies; and if he has yet any plans to increase the amount of credit available from these societies.
Ceisteanna—Questions. Oral Answers. - Building Society Loans.
58.
I understand that, at present, loans are being provided by the building societies to existing members only. The information so far available in relation to the present financial year, however, indicates that advances were greater than in the previous year. As regards the last part of the question, the amount of credit available from these sources is, of course, determined by the extent to which the public invest money in them.
If the amount of money provided was greater and the demand was spectacularly greater, surely there is a need unfulfilled? Would the Minister consider taking steps to direct money towards these building societies, or talk to the Minister for Finance to see if anything could be done in the Budget to encourage investment in these societies rather than spending large amounts of money on other projects.
This is, of course, another question, but the Deputy, I presume, is aware that representations have been made to the Minister for Finance in regard to the taxing system of building societies and this is being considered at present.