asked the Minister for Local Government if he is aware that Dublin Corporation has had to arrange overdraft accommodation to the extent of £1 million to facilitate the implementation of its capital works programme without interruption, pending payments due from the Local Loans Fund; and by how much the interest rate will affect the rates.
Ceisteanna—Questions. Oral Answers. - Dublin Corporation Capital Works Programme.
95.
I am not so aware. Dublin Corporation have applied for an authorisation to borrow up to £750,000 by means of temporary overdraft on their capital account during the six-month period up to 30th September next. This amount is exactly the same as that submitted by the corporation and sanctioned by successive Ministers for Local Government for the corresponding period since 1961. At present, there is no undue delay in making issues from the Local Loans Fund.
There is no information in my Department on the final part of the question. I understand, however, that it is anticipated that the cost of any overdraft facilities used will be offset by interest accruing to the corporation on foot of periodic credit balances on their accounts.
Since the question was put down there have been reports that the new drainage schemes will run into a great deal of extra financial cost. Will this involve a charge on the rates?
The reply which I have given to Deputy Lemass is as of today, 21st March. It is up to date. Obviously, Deputy Lemass got wrong information before he put down the question and I do not think that his extra information is any more accurate.
If we see newspaper reports which concern us, is it not proper for us to raise the matter in the House?
By way of question, yes.
This is Question Time.