§ CAPTAIN DONELAN (Cork E)I beg to ask the Chief Secretary to the Lord Lieutenant of Ireland, whether he will consider the desirability of making provision in the Labourers (Ireland) Acts Amendment Bill for a reduction in the rate of interest at present charged upon loans granted for building labourers' cottages?
§ MR. GERALD BALFOURThe rates of interest on loans for the purposes of the Labourers Acts are fixed by Treasury Minute. As the result of representations on the subject from the Irish Government, the terms for loans under these Acts have recently been revised, and the rates of interest are now the same as those fixed specially under the Housing of the Working Classes Act, 1890.
§ CAPTAIN DONELANasked whether the right hon. Gentleman was aware that the rate of interest still charged on these loans seriously crippled the working of these Acts by inflicting a heavy tax upon the ratepayers?
§ MR. GERALD BALFOURsaid he believed the rate charged was as low as any rate charged for loans by the Treasury, except that, perhaps, charged on loans to tenants for the purchase of their holdings.