Vol. 220 No. 8
asked the Minister for Local Government when he proposes to give approval to (a) the balance of £50,000 of the loan of £100,000 requested by Limerick County Council in August 1965, and (b) the loan of £150,000 requested by Limerick County Council in September 1965 for the making of advances to SDA applicants.
23.
asked the Minister for Local Government when he proposes to give approval to (a) £200,000 requested by Limerick Corporation in September 1965, and (b) the balance of £150,000 requested by Limerick Corporation in January 1966 for the making of advances to SDA applicants.
With your permission, a Cheann Comhairle, I propose to take Questions Nos. 22 and 23 together.
It has been the practice to sanction local authority loans for house purchase on the basis of the projected volume of loan allocations. In present circumstances, it is not possible to continue the forward commitment of capital for unduly long periods, and the amounts of individual loan sanctions are now based on estimated payments for a reasonable period ahead.
In the case of Limerick County Council, the loan of £50,000 was sanctioned on this basis. Sanction to a further loan is now under consideration.
In the case of Limerick Corporation, a loan of £50,000, out of the £200,000 applied for in September, was sanctioned last November and the balance of £150,000 was sanctioned on the 4th January last. The further loan of £150,000 applied for on the 13th January 1966 is under consideration.
I understand that, in both areas, there is a substantial undrawn balance of approved loans still available.
I expect to be in a position shortly to notify housing authorities of the amounts which will be made available to them in the next financial year to meet payments on house purchase loans. This should enable housing authorities generally to proceed with forward allocation of loans subject to payments not exceeding these amounts.
