asked the Minister for Finance if he will state what amounts have been advanced out of the £550,000 provided in the Budget of 1932-3 for loans to local authorities at low rate of interest; the rates of interest charged; the local authorities to which the advances have been made, and the terms of the loan in each case.
Ceisteanna—Questions. Oral Answers. - Loans to Local Authorities.
asked the Minister for Finance if he will state the names of the local authorities to which loans have been made out of the £550,000 included in the Emergency Budget of 1932-33 to be loaned at low rates of interest; if he will state the nature of the work for which the loan was advanced; and the amount advanced in each case, the rate of interest and the terms of the loan.
I propose to answer Questions 13 and 14 together. It is not possible to earmark against the sum of £550,000 referred to in the questions, or against the Grant-in-Aid for any other year, the advances made from the Local Loans Fund. The most that can be done is to give the Deputies a statement, under the headings mentioned in the questions, of the advances made from the Fund in the year 1932-33. The Commissioners of Public Works are preparing such a statement, which will be sent to the Deputies when completed.
May I ask the Minister whether it will be inserted in the Official Debates?
It will be sent to the Deputies who put down the questions, and possibly will be inserted in the records of the House.
asked the Minister for Finance if he will state what was the total sum in the Local Loans Fund on the 1st April, 1934, available for loans to local authorities and not yet advanced; how much of that sum, if any, is earmarked for advances in respect of sewerage schemes, water schemes and housing, and what local authorities are excluded by regulation or otherwise from any advances from the fund.
I assume the Deputy's question has reference to the unissued balance in the Local Loans Fund at the beginning of the current financial year. The total amount available at that date for advances from the Fund was £1,660,611. The preparation of a statement showing how much of that sum was earmarked for advances to local authorities in respect of the various services mentioned in the question will take some little time, and I am asking the Commissioners of Public Works to furnish the information when ready to the Deputy.
As regards the concluding part of the question, the Fund is open to all local authorities, though authorities of areas with high valuations are expected to use every means to raise money from their treasurer or by borrowing in the open market.