(Limerick East) asked the Minister for Finance if the proposed new office premises to be acquired or built under the decentralisation programme will be financed under the public capital programme; if there are any leasing arrangements being made in regard to the financing thereof; and if so, if he will give details of same.

Lease-purchase arrangements will be entered into with the developers which involve 20 annual payments. The payments will be made from the OPW subhead for rents. At the end of this 20 year period, when payments have been completed, State ownership will be reflected by a notation in the appropriate Government accounts.

(Limerick East): What rate of interest is built in to the figure on which the 20 annual repayments are based?

That is a matter for those who are paying. We have given the tenders in each of the four cases so far on the basis of the amount per square foot for rent of the completed office blocks some time next year. The question of interest rates is a matter for the developers concerned.

(Limerick East): On what interest rate are you projecting the rent per square foot?

The rent per square foot is on the basis of submissions tendered by the developers. Fortunately, the lowest tender in each case succeeded in getting the contract.