Ceisteanna—Questions. Oral Answers. - Working Capital for Agriculture.
- Working Capital for Farmers 6 speeches
Treacy asks about a shortage of agricultural working capital and who qualifies as creditworthy; Deasy says banks have funds for creditworthy farmers and leave that assessment to them.
Noel Treacy, Austin Deasy
- Farmers’ Borrowing Levels 3 speeches
Treacy asks how much farmers’ borrowing has fallen over five years. Deasy lacks the figure, denies special lending restrictions and notes that some exchange-guarantee loans are available at lower rates.
Noel Treacy, Thomas J. Fitzpatrick, Austin Deasy
- Euro-Currency Loan Balance 2 speeches
Noonan asks for the balance remaining in the Euro-currency loan scheme; Deasy says he does not have the figure.
Michael J. Noonan, Austin Deasy
- Availability of Farm Credit 24 speeches
Deputies return to whether farmers can access working capital and what makes a farmer creditworthy. Deasy says banks decide creditworthiness, reports no known special restrictions and cites current rates of 16¼–16¾ per cent; exchanges become heated, and the Chair eventually closes supplementaries.
Thomas J. Fitzpatrick, Ned O'Keeffe, Austin Deasy, Hugh Byrne, Noel Treacy
asked the Minister for Agriculture if he is aware that there is a major shortage of working capital for agricultural purposes; if he will take steps to rectify the position; and if he will make a statement on the matter.
Comment on this
I understand that the financial institutions have funds available to meet the normal working capital needs of creditworthy farmers. The question of rectifying the position therefore does not arise.
Comment on this
I understand that the financial institutions have funds available to meet the normal working capital needs of creditworthy farmers. The question of rectifying the position therefore does not arise.
Comment on this
Is the Minister aware that there is a major shortage of funds available to Irish farmers? Over the past five years what was the percentage drop in the level of borrowings by Irish farmers?
Comment on this
I have not got that information. The financial institutions are not operating any special restrictions on funds for working capital for agriculture. Some funds are still available at low interest rates, that is, at 10 per cent or 11 per cent, from a Euro-currency loan known as the exchange guarantee scheme for loans.
Comment on this
(Limerick West): Can the Minister give us some indication of the unexpected balance in the Euro-currency loan?
Comment on this
I asked the Minister if he is satisfied that there is no shortage. I am asking him now is he satisfied himself that there is no shortage. Yes or no?
Comment on this
I am asking for a simple answer, yes or no. We have been asking questions and not getting answers.
Comment on this
I ask Deputies to treat this Chamber as a House of Parliament and not to be aggressive. That does not add to the atmosphere of the House.
Comment on this
If you do not get an answer to your question, that leads to aggressiveness. We have been very polite on this side of the House for far too long perhaps. I am asking for a simple answer to my question.
Comment on this
This is Question Time. The Deputy should read the report of Question Time now and again.
Comment on this
I am asking for an answer to the question: is the Minister satisfied, without hiding behind the banks or the financial institutions?
Comment on this
Is the Minister himself satisfied that there is no shortage of money available for working capital for farmers?
Comment on this
I have said that there are no restrictions that I know of on funds from the financial institutions. The current rate varies from 16¼ per cent to 16¾ per cent depending on the length of the loan. Of course we would prefer if the bank interest rates were at a lower level. Unfortunately they are not.
Comment on this
There is no such thing as a final supplementary. There is such a thing as enough supplementaries and we have had enough on this question. I deprecate the fact that Deputies who put down questions are having them invaded by other Deputies and are not given an opportunity of following them up, but there is nothing the Chair can do about that.