asked the Minister for Local Government whether any official in his Department assisted in any way in the discussion which took place prior to or during negotiations between Irish banking interests and Irish building societies which resulted in agreement on a £6 million preferential interest rate loan to the building societies in 1973-74; and, if so, if he will give details of loan conditions and repayment arrangements.
Written Answers. - Loan Interest.
112.
The special borrowing facility of £6 million was made available by the Associated Banks, in accordance with arrangements made with the banks by the Minister for Finance and the Central Bank, following discussion which took place on my initiative between officers of my Department and of the Department of Finance and the Central Bank. Money borrowed under the facility is repayable in 12 monthly instalments commencing in July, 1975. The interest rate charged by the banks on the loan is the prime overdraft rate, that is the rate applicable to Government-guaranteed and local authority borrowings but the effective cost to the societies is being reduced to a rate ¾ per cent below the current mortgage rate by means of State subsidy.
113.
asked the Minister for Local Government the total number of dwellings completed in the year ended 31st December, 1973 and in the first six months of 1974.
A total of 23,870 dwellings were completed in the year ended 31st December, 1973. Final figures for the first six months of 1974 are not yet available.
114.
asked the Minister for Local Government the number of dwellings for which grants were allocated by his Department in the quarters ended 31st March, 1974 and 30th June, 1974.
The numbers are 4,020 and 4,246, respectively.
116.
asked the Minister for Local Government when the Quarterly Bulletin of Housing Statistics in respect of the quarter ended 30th June, 1974 will be published.
I expect to have the Quarterly Bulletin of Housing Statistics for the quarter ended 30th June, 1974, published about the middle of August.
117.
asked the Minister for Local Government whether any special incentives were provided as an encouragement to his Department's housing inspectors to increase the number of house grant payments in 1973-74; and, if so, the amount payable for each month in which the scheme operated.
No special incentives were provided to encourage the Department's housing inspectors to increase the number of house grant payments in 1973-74. The normal overtime or incentive bonus scheme first introduced in 1961-62 and operated each year since then was, however, worked as usual in 1973-74. The amounts paid each month are set out in a table which, with the permission of the Ceann Comhairle, I propose to circulate with the Official Report.
Following is the statement:
|
1973 |
£ |
|
April |
Nil |
|
May |
Nil |
|
June |
2,075 |
|
July |
3,615 |
|
August |
986 |
|
September |
485 |
|
October |
1,601 |
|
November |
1,184 |
|
December |
510 |
|
1974 |
|
|
January |
122 |
|
February |
46 |
|
March |
Nil |