§ DR. ROBERT AMBROSE (Mayo, W.)I beg to ask the Secretary to the Treasury, whether, considering the low rate of interest at which the Government can borrow money, he will reduce the rate of interest which Irish public boards are compelled to pay for money borrowed from the Board of Works?
§ MR. HANBURYI am afraid I have really nothing to add to my previous answers on the subject. As I informed the hon. and learned Member on the 9th March, in reply to his Question about the Westport Harbour Loan—
Four per cent. is the lowest rate of interest which can be allowed for such loans in the absence of special legislation, and as the Local Loans Fund is at present constituted, any reduction in the present rate of interest would seriously endanger its solvency.1512 This answer I virtually repeated in replying to a Question put by the hon. Member for North Kildare on the 12th March.