Joe Sherlock (Cork East, Labour)
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Question 445: To ask the Minister for the Environment, Heritage and Local Government when he proposes to approve the application of Cork County Council and Fermoy Town Council to raise a loan in respect of the court house and civic offices in Fermoy; and if he will make a statement on the matter. [3901/04]

Martin Cullen (Waterford, Fianna Fail)
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In budget 2004, the Minister for Finance introduced, for the first time, limits in relation to the general government balance — GGB — for the local government sector. A key component in measuring the GGB is the level of borrowing sanctioned for and drawn down by local authorities. An assessment of the 2004 borrowing requirements of local authorities is accordingly being completed by my Department. Decisions on individual loan applications from local authorities, including that for the Fermoy courthouse and civic offices, will be made following completion of this assessment, the results of which I expect shortly.