asked the Minister for Local Government if he is prepared to set up a Prices Advisory Committee to investigate and report in public the increases by building societies in mortgage interest rates for current borrowers.
Ceisteanna — Questions. Oral Answers. - Building Societies' Mortgage Rates.
The reply is "No".
I would refer the Deputy to the statement which I issued on the 5th June following the decision of one of the building societies to charge an extra 1 per cent in the interest rate to old and new borrowers. On that occasion I announced that it was intended to have an investigation carried out with a view to making recommendations to the Government about the tax concessions which the societies enjoy.
I would also refer the Deputy to the White Paper — Housing in the Seventies — chapter 2 of which deals with Capital for Housing.