§ 82. Mr. PATRICK MEEHANasked the Chief Secretary for Ireland whether, in the event of any rural district council obtaining a loan in the open market for the purpose of proceeding with a scheme for the erection of cottages under the Labourers (Ireland) Acts at a rate of interest exceeding land purchase terms, the financial provisions of the new Land Bill will entitle such council, when the Bill becomes law, to apply for and receive on land purchase 31 terms, out of the million pounds provided for the purposes of the Labourers Act, an amount sufficient to redeem the loan necessarily borrowed in the open market for the completion of a scheme?
§ Mr. BIRRELLIt would not be possible to make the financial provisions of the Bill retrospective in the case of labourers' cottages, as the hon. Member suggests.
§ Mr. PATRICK MEEHANIn cases where the district councils in future borrow money for the purpose of completing a scheme, will the Financial Clauses in those cases allow them to repay it out of the money provided under the Bill?
§ Mr. BIRRELLIn the future, if they borrow money, they will not borrow at the higher rate if they think they can get it at the lower rate under the financial provisions of the new Bill.