HC Deb 05 March 1885 vol 295 c106

asked the Financial Secretary to the Treasury, Whether an order has been issued for reducing the rate of interest charged to Boards of Guardians in Ireland for loans under the Labourers' (Ireland) Act; and, if not, if the Treasury intend charging a higher rate of interest for loans under "The Labourers' Act, 1883," than they charge for loans under the Land Act of 1881?


The rate of interest for these loans has been reconsidered; and as soon as the Bill introduced by my right hon. Friend the Chief Secretary for Ireland has become law, the Treasury will fix the rates of interest at 3¼ per cent for loans repayable in 35 years, 3½ per cent for loans repayable in 40 years, and 3¾ per cent for a longer term, subject always to the sufficiency of the security. This is a reduction of ¼ per cent or more on the present rates of interest.