Are we to understand from the Minister, in regard to this particular fund, the American Loan Counterpart Fund, which is being set up and into which this money is being put, that this money can be utilised for Exchequer purposes? I was not quite clear regarding the Minister's statement this morning.
Committee Stage.
Sections 1, 2 and 3 agreed to.
SECTION 4.
Question proposed: "That Section 4 stand part of the Bill."
The section enables the money to be expended in any way in which the Post Office Savings Bank money could be utilised. The money may be invested in any manner in which moneys of the Post Office Savings Bank are for the time being authorised by law to be invested. That ties the investment to certain securities of a Government type. I used the phrase that this was a devious way of getting money into the Exchequer, but it would be inconsistent with the objective of this loan that these moneys should be utilised to finance current expenditure or to meet a budget deficit. It is not intended that it would be used for any of those purpose.
Question put and agreed to.
Section 5 and Title agreed to.
Bill reported without recommendation and received for final consideration.
Question proposed: "That the Bill be returned to the Dáil."
I would like to draw the Minister's attention again to a point raised on the Second Stage in relation to the housing grants and the promise the Minister made last year and the Minister for Local Government has made on several occasions since to local authorities that by some arrangement the increased loan charges from 2½ to 3¼ per cent. would not apply in connection with housing for the working classes. I understand that this matter is still hanging in abeyance, as it were, and the local authorities have not been informed whether the Minister has drawn up some scheme to make that provision, by which the loans will not be charged at the higher rate of interest.
Also, in a passing remark the Minister made to-day, he informed me that it is proposed to continue the Transition Fund. That fund was intended to provide means of letting houses at a lower rate, and so forth. I am sure local authorities would also be anxious to know if the same grants will be made available from this Transition Fund as have been made during the past few years, together with the normal provisions made from the Housing Acts. That is, there would be grants of two-thirds of the loan, together with the moneys from the Transition Fund, as has been the practice in the past.
As the Minister has been in a rather generous mood towards the end and has promised to reconsider what did seem to be savings made, I would urge him to reconsider another saving that was decided on. I would ask him to allow the provision for the Garden of Remembrance, £23,000, to stand. It would be a good note on which to conclude this Bill. I understand it is proposed to hold some commemorations this year. The best commemoration we could have would be that this Garden of Remembrance, which was to commemorate primarily the people who gave their lives from 1916 onwards, should be put in hands and completed in this year.
There is one matter I would like to raise, though I do not know if it is in order on this stage. It is in relation to our international commitments. I would like to find out from the Minister, if I can, the present position regarding the use of the Irish Flag on British ships. That matter was the subject of discussion in this House in October or November, 1947. At that time, I drew attention to the risk to which we were exposed in the event of war, if a British ship was permitted to be registered in Ireland and, therefore, entitled to use the Irish Flag on the high seas. I do not want to extend that beyond drawing attention to the risks to which this country will be exposed, in the event of strained relations abroad, should foreign ships use the Irish Flag. I would be anxious that the matter might be considered.
An Leas-Chathaoirleach
It does not arise on this Bill.
I cannot answer Senator Duffy's point. In reply to Senator Hawkins, a guarantee was given last year that there would be an arrangement in connection with the subsidy or grant which would equalise the conditions. I have never heard that that guarantee was not carried out. I have yet to see any case in which an objection was made that the promise was not fulfilled.
The Transition Development Fund is not going to be wound up, mainly for the reason that most of it is earmarked. Quite an amount of it has already been spent, but there are certain commitments in respect of a good deal more of it and these commitments will be preserved.
Regarding the Garden of Remembrance, that matter was started many years ago and during the war it was left lying in abeyance. The situation at the moment is that the Minister for Health has put forward a proposal, in which he wants, as an urgent measure, that that strip of ground at the top of the Rotunda Gardens should be left to him for certain infant welfare schemes. Until that point is finished and done with, I cannot move in the matter.
Question put and agreed to.