asked the Minister for Fisheries and Forestry if he will act immediately and impress upon BIM the absolute necessity of an urgent review of BIM's recent decisions in the following areas: (a) the recent interest increase in boat loans and (b) the recent decrease in the interest subvention on loans guaranteed by BIM; and if he will make a statement on the need for these measures for the survival and development of the fishing industry.
Written Answers . - BIM Boat Loans .
566.
: The recent changes in the rates of boat loan interest and interest subvention were necessary in order that An Bord Iascaigh Mhara's expenditure in the current year for this purpose would not exceed the financial allocation made to it from the Exchequer. While bank loans are subject to fluctuating interest rates which are outside the control of the board I should point out that the current interest rate on the board's loans still compares very favourably with commercial rates generally. Fishermen also benefited from the reductions in bank interest rates which occured during the past year.