asked the Minister for Local Government if he will give details of the total amounts advanced to the National Building Agency on 1st April, 1967; the purposes for which such advances were made; and the terms as to repayment and interest and other matters that were determined by him in making such advances.
Ceisteanna—Questions. Oral Answers. - Advances to National Building Agency.
82.
Mr. Barrett
The total sums advanced to National Building Agency Ltd. on 1st April, 1967, amounted to £1,111,000. These advances were made to meet capital expenditure on industrial housing pursuant to section 6 of the National Building Agency Ltd. Act, 1963. Advances were made from time to time, as required, at the current exchequer lending rate. Interest is paid in full on all such sums from the date advanced by the Exchequer and arrangements are subsequently made for the repayment of capital on an annuity basis. In making advances the Minister for Finance has regard to the object of the Agency to provide housing in connection with industrial development.