asked the Minister for the Environment in view of the reduction in interest rates, if he will consider reducing the interest rates payable on local authority SDA loans; and if he will make a statement on the matter.

I announced on 5 November that the interest rate payable on new advances by local authorities for the purchase, construction or improvement of houses will be 11 per cent. The new rate represents a reduction of 1½ in the prevailing rate of interest for these loans.

What is the date of operation of the 11 per cent?

The first of November.

Is the Minister aware that some local authorities were not aware of this on 4 November?

On this occasion I am sure the Deputy will agree with me that it was beneficial to back-date it to 1 November.

More progress.