asked the Minister for the Environment the criteria which he stipulates must be met by building societies in order to entitle them to a lower than standard rate of tax on certain dividends and interest paid by the societies to their shareholders and depositors.
Written Answers . - Building Societies .
23.
: The special taxation arrangement mentioned by the Deputy is subject to the condition that societies charge an interest rate not in excess of that specified by me on loans not exceeding a specified amount and that the value of home loans approved is not less than 90 per cent of the total value of all loans approved. As from 1 June 1978, the specified interest rate is 11½ per cent on loans not exceeding £15,500.