asked the Minister for Finance if he has applied for any loans outside the country since 1st January, 1975; if so, the results of the applications; and to whom the applications were made.
Ceisteanna—Questions. Oral Answers. - State Borrowings.
9.
The answer is in the negative. A number of possibilities are at present under consideration. These include the question of availing of assistance under the European Community Loan facility.
Did I understand the Minister to say that he had not applied for any loans since the 1st January last, or is it that he has applied and been refused?
I do not know what to say to that question. The answer is in the negative. The question is: "To ask the Minister for Finance if he had applied for any loans."
I do not know to what the word "negative" is applicable, whether it is the result or the application.
I would take it that he has not applied.
Then how did he propose to fund the January budget?
That is a separate question.
Has the Minister for Finance applied for any loans? Surely the question deserves a somewhat better answer than has been given.
We have had that question before.
The answer is in the negative; that is what the Minister himself says.
He has not applied for any loans?
Question No. 10.
Can the Minister explain the statement in his budget speech that the rate of foreign borrowing has risen five-fold in the last two years, and further, where he continues to say that the Irish economy does not have an unlimited capacity either to borrow resources——
These are all separate matters. Question No.10.
On what basis did the Minister make those statements if no applications have been made for loans in the period about which the Deputy asked?
I am simply giving the answer with which I have been supplied.
(Interruptions.)
Question No. 10.
I would say that this is very clean, straightforward work.
We know now why the Minister for Finance has gone away.
That is a corrosion of parliamentary democracy.
10.
asked the Minister for Finance if he will give details of any loans borrowed in West Germany since March, 1973; and if he will outline the total cost of repayments in each case.
The Government have not raised any loans in West Germany in the period since March, 1973.
Have the Government raised any loans in Deutschemark since March, 1973?
The question is to ask the Minister for Finance if he will give the details of any loans borrowed in West Germany since March, 1973. The answer is that the Government have not raised any loans in West Germany in the period since March, 1973. That is a clear answer.
I asked a clear question.
It is obviously a separate question.
11.
asked the Minister for Finance if he will give details of the composition of the borrowings of over £197 million into the Exchequer between 1st January 1975 and 30th May 1975; and if he will make a statement on the need for the volume of this borrowing in comparison with the £3½ million borrowed over the same period in 1974.
I would refer the Deputy to my reply to a similar question on 28th May 1975. Apart from the fact that the information requested relates to a later date the earlier explanation given is still valid. I might add that the repayment figure of £208 million on the issues side of the Exchequer statement should be set off against the borrowing figure of £197 million.