asked the Minister for Local Government if he will consider increasing the upper limit of £1,200 per annum under which a citizen building his own house can receive a loan from a local authority; or if he will consider giving a greater allowance for dependants.
Ceisteanna—Questions. Oral Answers. - House Loans.
41.
The primary objective of the local authority house-purchase loans scheme is to enable persons of modest means to buy their houses as an alternative to seeking accommodation from the local authority.
In the quarter ended 30th September last almost 58 per cent of applicants for loans had incomes of less than £1,050 a year and the remainder almost without exception, had incomes of less than £1,200 a year. At the 30th September, the value of applications which local authorities generally had on hands from these persons reached a record level of £10.7 million compared with £8.6 million and £6.0 million on the corresponding dates in 1968 and 1967. On these figures, the present income limit does not appear to inhibit the operation of the scheme and I do not propose to increase it at this time. An income allowance for dependants does not apply to this scheme. Local authorities may advance loans without reference to the income limit to tenants of local authority houses who surrender their tenancies on getting a loan and to persons whose loans are financed from sources other than the Local Loans Fund.
Is the Minister aware that it is the amount outgoing each week or each month that counts? That is a very different situation from the days when American money was available at 3½ per cent. Is it not reasonable that these figures should be increased now having regard to the cost of money?
The people within this income limit are ready to avail of the loans in very large numbers.
Does the Minister not regard his outlook on this matter as harsh?
No.
Is there a reason for the Minister's attitude?
The Deputy did not turn up yesterday for the opening of the new flats at Sarah Place. Maybe it was just as well.
I did not. Was the Minister looking for me?
No.