asked the Minister for Finance whether the Government are taking any steps to enable the Agricultural Credit Corporation to lend money at a lower rate than six per cent. to credit societies for the purpose of granting small loans to farmers; and, if so, when it is expected that facilities of this kind will be available.
CEISTEANNA—QUESTIONS. ORAL ANSWERS. - AGRICULTURAL CREDIT CORPORATION LOANS.
The Government are giving consideration to the question of what steps might be taken to enable the Agricultural Credit Corporation to lend money at a lower rate than six per cent. to credit societies for the purpose of granting small loans to farmers.
Is the Minister aware that at a recent meeting in the West a member of the Government Party stated that loans of £50 would be issued at a rate of 2½ per cent?
It was clear that the Corporation itself would be borrowing at 5 per cent.
Then there is no truth in the statement?
I do not know anything about the statement.
It was the credit societies he was talking about.