asked the Minister for Lands and Fisheries if he is aware that communications from his Department have been sent to a number of fishermen in West Cork informing them that unless they are prepared to pay forthwith large sums of money in respect of their indebtedness on loans borrowed from the British Government they will be deprived of any relief under the Fisheries (Revision of Loans) Act, 1931, and in view of the distress and hindrance to the fishing industry which these communications have caused, will the Minister undertake to have the matter inquired into at an early date; and will the Minister undertake to consider the advisability of granting a "clean cut" in respect of these loans.
Ceisteanna—Questions. Oral Answers. - Fishery Loans in West Cork.
The outstanding fishery loans in West Cork have been reduced from £33,089 to £5,610. In seven cases the borrowers have the alternative of paying the reduced amounts forthwith or of entering the Sea Fisheries Association of Saorstát Eireann, Limited, and paying the reduced amount out of the value of their catches. In the ten remaining cases the borrowers have the option of paying the whole reduced amount forthwith or of entering the Sea Fisheries Association of Saorstát Eireann, Limited, and paying a specific part forthwith and the remainder (being the present values of the boats) by deduction from their future catches. The latter are, I understand, those cases in which the borrowers could have paid instalments in the past, but have not paid, and have in many instances invested their earnings in other properties.
I am not aware that any hindrance is being occasioned to the fishing industry and the equities of the matter seem to have been adequately met by the reductions given.