§ Mr. MacVEAGHasked the Secretary to the Treasury whether the Board of Works in Ireland is prepared to grant loans to managers of schools for the erection of teachers' residences; and, if so, at what date and on what terms?
§ Mr. BALDWINYes, Sir; the Board of Works are prepared to consider the recommendations of the Commissioners of National Education for the issue of loans to managers of schools for this purpose. Under the statutes governing the issue of these loans, loans may be made up to a maximum of £250 repayable by annuity over a period of not more than 35 years. The repayment annuity is based on the rates of interest applicable to loans issued from the Local Loans Fund as fixed from time to time by the Treasury. At the present time the repayment annuity required for a 35 years' loan is '£7 9s. 8d. per cent.