asked the Minister for Agriculture and Fisheries the number of Norwegian fishing boats owned by Irish fishermen; when they were purchased; the price paid; and the difference in repayments on loans due to the devaluation of the pound.

Fifteen Norwegian fishing boats were purchased by Irish fishermen between 1968 and 1972 at a total cost of 12,696,884 Norwegian kroner which was equivalent to £745,730 at the rates of exchange applicable on the dates the vessels were purchased. The most recent half-yearly repayments due in respect of eight vessels still the subject of Norwegian loans amounted to £46,464, whereas these repayments would have been £28,322 at the rates of exchange which applied when the vessels were purchased.

I did not get the Parliamentary Secretary's figures in relation to the changes.

The most recent half-yearly repayments due in respect of eight vessels still the subject of Norwegian loans amounted to £46,464, whereas these repayments would have been £28,322 at the rates of exchange which applied when the vessels were purchased.

In view of this enormous increase from £28,000 to £46,000, is the Parliamentary Secretary aware that fishermen are not able to meet their repayments? What does the Parliamentary Secretary intend doing to try to alleviate the situation? Fishermen now find themselves in a worse situation than when they first purchased the boats.

The position is that two of the 15 Norwegian vessels referred to in the reply were cleared in full within their repayment periods, and six purchasers are meeting their repayments as far as is known to BIM, and two or three purchasers are finding it difficult to meet repayments. When these people decided to purchase their boats from Norway that was a risk they took. It was open to fishermen to buy boats in Ireland. These people decided to buy in an outside market at a time when the present exchange rates could not be foreseen. Undoubtedly, it will cost them money but that is one of the hazards of business life and the Exchequer should not be asked to subsidise them. The vast majority of Irish fishermen had their boats built in Ireland but there were no restrictions on any who wished to purchase abroad. As a result of their decision to purchase foreign boats, they are now caught up in the currency exchange rates. I have great sympathy for them but a number of them are able to cope with the situation.

The Parliamentary Secretary said that Irish fishermen opted to buy abroad on the recommendation of An Bord Iascaigh Mhara.

No.

An Bord Iascaigh Mhara organised the purchase of these boats abroad.

An Bord Iascaigh Mhara guarantee the loan repayments for the purchasers. They do not authorise them to buy abroad. Once a person decides to buy a boat and qualifies to do so with BIM aids it is up to him to decide whether to buy at home or abroad. We emphasised again and again the desirability of purchasing at home in order to keep our boat yards working. We do not preclude people from buying abroad but when they did so and when by virtue of the currency exchange rates they now find it more difficult to meet repayments that is a business hazard. There was no question of the board asking anyone to build a boat abroad. The opposite would be the case. As a result of the currency exchange rates now the demand for foreign boats is almost negligible.

The Parliamentary Secretary——

May I ask for brevity so that some appreciable progress may be made on other questions also?

From all sides.

Yes. I shall allow a final supplementary from Deputy Allen.

In other words, the Parliamentary Secretary is telling us that he has no intention of coming to the assistance of those fishermen whose half-yearly repayments have been increased from £2,900 to approximately £6,000.

There are no proposals at present to help in this regard.

6.