asked the Minister for Local Government the percentage by which building societies' mortgage interest rates have increased in each of the past five years; and if he will make a statement on the matter.
Ceisteanna—Questions. Oral Answers. - Mortgage Interest Rates.
57.
The information is not available in my Department. As indicated in the White Paper Housing in the Seventies, interest rates are a matter for determination by the societies in the light of practice and the need to attract funds for new housing.
Would the Minister not agree that societies must get the approval of the Minister before increasing their interest rates? Was this not transferred from the Department of Industry and Commerce to the Minister's Department two years ago?
No. the Deputy is slightly mixed up. Responsibility for building societies has been taken over by the Department of Local Government.
Questions Nos. 58 to 62, inclusive, postponed.