§ MR. T. A. DICKSON
asked Mr. Chancellor of the Exchequer, If, in reply to the deputation which waited upon him on the 26th of April, he is now prepared to state the decision of the Government with reference to the application for a reduction of the rate of interest on loans to Irish Railways?
§ THE CHANCELLOR OF THE EXCHEQUER (Mr. CHILDERS)
Sir, in reply to my hon. Friend, I have to state that although some details have not yet been settled, we have virtually decided to reduce the rate of interest on loans to Irish Railway Companies made by the Irish Board of Works from 5 to 4 per cent as from the 1st of July next. Special arrangements will have to be made with reference to certain cases where payments have fallen into arrear, and these may take some little time to complete. When the whole are completed the Treasury Minute will be laid before Parliament.