asked the Minister for Industry, Commerce and Tourism if, in view of the increases in interest rates, he will make loans available at reduced interest rates to hard-pressed hotel and guesthouse owners.
Ceisteanna—Questions. Oral Answers. - Hotel and Guesthouse Loans.
7.
I am advised by Bord Fáilte that they have not had any indications that tourism is affected any differently than other sectors. The accommodation sector is of course in receipt of specific Bord Fáilte grants for the construction and upgrading of hotel-guesthouse bedrooms as well as being able to avail of 100 per cent capital depreciation allowances, which constitute a particular benefit to the tourist accommodation sector.
I do not, therefore, propose to take any action at present along the lines suggested by the Deputy. However, I can mention for the information of the House that a NESC study on the implications of tourism for the economy is due to be published in the next couple of months. This report may provide a basis for a general review of tourism policy including policy in regard to incentives for the accommodation sector.
Would the board not consider individual requests from hoteliers who find themselves in trouble because of the disastrous year last year to help them financially over the present crisis? In agriculture the Agricultural Credit Corporation endeavour to meet some farmers problems. In the hotel business some buffer with the commercial banks should be found. Is the Minister satisfied that Bord Fáilte have paid up fully and honoured their commitments to date to the various hoteliers?
Approvals are going out for new hotel bedroom schemes. We are awaiting the NESC study report and I do not want to pre-empt what is in that report. However, I do not rule out what is contained in the Deputy's question and will discuss it further. If I said more than that I would be moving ahead of the study report which we will all have a chance of discussing.