HC Deb 12 March 1896 vol 38 cc765-6
MR. C. J. ENGLEDOW (Kildare, N.)

I beg to ask the Secretary to the Treasury, whether it is his intention to introduce legislation during the coming Session to alter the rate of interest charged on loans made by the Board of Works in Ireland to a sum more in proportion to the present market value of money, and to fix a rate of interest on these loans that will insure the Department against loss, but will not provide a large and substantial profit to the Government; if he will extend the provisions of such legislation to corporations and town commissioners, in order that they may be able to borrow money on such terms as would make it possible for them to build artisans' dwellings in Ireland, and let them at a reasonable rent; and, would he also state what are the various rates of interest charged to the different public bodies in Ireland?


The various rates of interest on loans advanced by the Board of Works in Ireland are given in Appendix E to the Board's 63rd Report, issued in 1895, to which I beg to refer the hon. Member. As I stated in reply to a Question put by the hon. Member for West Mayo on the 9th instant, any reduction in the present rate of interest on Government Loans would seriously endanger the solvency of the Local Loans Fund as at present constituted.