asked the Minister for Local Government if he will state (a) on what conditions, including the terms and rates of interest, advances are to be made to applicants for loans under the Small Dwellings Acts by the Dublin Corporation; (b) the cause of the delay in making the loans, and (c) whether this body, under the present financial proposals, will be facilitated by loans, through the Local Loans Fund, in order to allow them to make the grants for the full term of years at a fixed rate of interest.
Ceisteanna—Questions. Oral Answers. - Housing Loans.
Mr. Byrne
Advances made by the Dublin Corporation under the Small Dwellings Acquisition Acts are repayable over a maximum period of 35 years at an interest rate of not more than ½ per cent. above the rate at which the corporation themselves borrow.
I understand that there has been a temporary hold-up in the issue of loans by the corporation pending the completion of arrangements for obtaining further capital.
Representations have been received recently from the corporation with a view to making the Local Loans Fund available for Small Dwellings Acquisition Acts advances. The corporation is being informed that the amount, terms and source of the capital moneys recently negotiated for the corporation represent the maximum and most favourable facilities which the Government can obtain for the corporation.
Mr. Byrne
Is the Minister aware that the information given to him is not accurate? He says the corporation is awaiting sanction for further money. Is the Minister aware that the corporation have been offered £5,000,000 on a 15 year term, while 220 young people, who are building their houses on a 35 year term, are being held up and are being threatened with legal proceedings? Will the Minister see that the Local Loans Fund is made available so as to give the corporation money on a 35 years term so that it may be in a position to put it at the disposal of deserving people and not have them pressed and harassed as they are at the moment?
I stated in my reply that the terms are the best that can be made available. To borrow on the terms and over the period suggested by the Deputy would be unpredictable at the moment.
Why not repatriate our sterling assets?
Mr. Byrne
Are not these terms very unfair?
Question 103.
Mr. Byrne
The information is all wrong, and I know it.
Question 103.
Mr. Byrne
I now give notice to raise it on the Adjournment.
The Deputy may not raise it now.
Mr. Byrne
The Minister has got wrong information, and it is not fair to put it across the House.
Get yourself suspended.