asked the Minister for Finance if there are sufficient funds available to the ACC to ensure that loans are available to farmers for building new houses and for land purchase.
Ceisteanna—Questions. Oral Answers. - ACC Loans.
39.
I am satisfied that the ACC have sufficient funds to meet applications from farmers for loans for building new houses and for land purchase. To ensure the most effective use of funds the ACC confine loans for land purchase to farmers who are working to an approved development plan or to farmers who have invested substantially in the ACC's deposits scheme.
Could the Minister say when this decision was taken by the ACC?
The decision was taken by the ACC in respect of the grant year, just as it is taken each year by the ACC Board.
Could the Minister say why he denied us such a statement?
I did not. I said all along that the question of the allocation of funds is a matter for the ACC Board and they have taken that decision.
Is it a realistic policy to grant money to those who have the greatest deposits with the ACC? Surely when people are trying to borrow money, they do not have money on deposit elsewhere? Is this not a useless criterion on which their creditibility should be based?
I have no doubt that the ACC, to whom I will convey the Deputy's views, will bear in mind what he has said.