asked the Minister for Transport and Power if he is aware of the need and the demand for a credit corporation to service the tourist industry; and, if so, whether he proposes to take any steps to establish such an institution.
Ceisteanna—Questions. Oral Answers. - Tourist Credit Corporation.
68.
The area of the tourist industry which makes the greatest demand on credit facilities is the development of holiday accommodation. Credit for accommodation development is provided by the commercial banks, merchant banks, insurance companies and other sources. The Deputy will recall that when the Supplementary Estimate for holiday accommodation was introduced in December last, it was explained to the House that a number of factors, including an easing of credit restrictions, had led to a substantial increase in the rate of investment in that sector.
I have no evidence that the industry is hampered by lack of credit from traditional sources and in the circumstances I do not at present consider it necessary to seek to establish a credit institution.
However, with a view to future developments I am having this matter re-examined in greater detail.