asked the Minister for Agriculture if he is aware that there is a major shortage of working capital for agricultural purposes; if he will take steps to rectify the position; and if he will make a statement on the matter.
Ceisteanna—Questions. Oral Answers. - Working Capital for Agriculture.
1.
I understand that the financial institutions have funds available to meet the normal working capital needs of creditworthy farmers. The question of rectifying the position therefore does not arise.
I cannot hear the Minister. Would he repeat the reply please?
I understand that the financial institutions have funds available to meet the normal working capital needs of creditworthy farmers. The question of rectifying the position therefore does not arise.
Could the Minister outline for us what the banks regard as creditworthy farmers?
That question should be directed to the banks.
Is the Minister aware that there is a major shortage of funds available to Irish farmers? Over the past five years what was the percentage drop in the level of borrowings by Irish farmers?
That seems to be a totally separate question.
I have not got that information. The financial institutions are not operating any special restrictions on funds for working capital for agriculture. Some funds are still available at low interest rates, that is, at 10 per cent or 11 per cent, from a Euro-currency loan known as the exchange guarantee scheme for loans.
(Limerick West): Can the Minister give us some indication of the unexpected balance in the Euro-currency loan?
I have not got that figure available.
That is a different question.
Can the Minister define a creditworthy farmer?
That is argument.
It is a matter for the banks to decide.
Is the Minister satisfied that there is no shortage of money for farmers?
As I said, the financial institutions are not operating any special restrictions.
I asked the Minister if he is satisfied that there is no shortage. I am asking him now is he satisfied himself that there is no shortage. Yes or no?
A Cheann Comhairle, I object to this crown prosecutor type of attitude.
I am asking for a simple answer, yes or no. We have been asking questions and not getting answers.
I ask Deputies to treat this Chamber as a House of Parliament and not to be aggressive. That does not add to the atmosphere of the House.
If you do not get an answer to your question, that leads to aggressiveness. We have been very polite on this side of the House for far too long perhaps. I am asking for a simple answer to my question.
This is Question Time. The Deputy should read the report of Question Time now and again.
I am asking for an answer to the question: is the Minister satisfied, without hiding behind the banks or the financial institutions?
We cannot have argument at Question Time. The Deputy is indulging in argument.
Is the Minister himself satisfied that there is no shortage of money available for working capital for farmers?
That question has been asked about four times.
It has not been answered.
Will the Deputy resume his seat and let the Minister answer?
I have said that there are no restrictions that I know of on funds from the financial institutions. The current rate varies from 16¼ per cent to 16¾ per cent depending on the length of the loan. Of course we would prefer if the bank interest rates were at a lower level. Unfortunately they are not.
The Minister is not aware of the situation on the ground.
I am passing on to Question No. 2.
I want to ask one final supplementary.
There is no such thing as a final supplementary. There is such a thing as enough supplementaries and we have had enough on this question. I deprecate the fact that Deputies who put down questions are having them invaded by other Deputies and are not given an opportunity of following them up, but there is nothing the Chair can do about that.
Please, just one more?