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Ceisteanna—Questions. Oral Answers. - National Debt.

Tuesday, 27 September 1966

Dáil Éireann Debate
Vol. 224 No. 1

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21.

Mr. Lindsay: Information on Patrick James Lindsay Zoom on Patrick James Lindsay asked the Minister for Finance the present amount of the national debt, and the most recent servicing cost.

[20]22.

Mr. L'Estrange: Information on Gerald L'Estrange Zoom on Gerald L'Estrange asked the Minister for Finance (a) the total national debt at the latest available date, (b) the cost of servicing it, (c) the amount borrowed since the Dáil went into recess and (d) why 88 per cent of the loan on the British market was taken up by underwriters.

Mr. J. Gibbons: Information on James M. Gibbons Zoom on James M. Gibbons I propose, with your permission, a Cheann Comhairle, to take Questions Nos. 21 and 22 together.

The information requested by the Deputies is as follows:—(a) the total national debt at 31st March, 1966, the latest date for which figures are available, was £715 million; (b) the amount required for the service of the national debt for the current financial year is estimated at £55.4 million; (c) the amount borrowed since the Dáil went into recess was £15.6 million; (d) because the arrangement with the underwriters was that they would ensure that the issue would be fully subscribed.

Mr. L'Estrange: Information on Gerald L'Estrange Zoom on Gerald L'Estrange Could the Minister say why the Government Information Bureau, Telefís and Radio Éireann and even some responsible newspapers tried to mislead the public that the loan was oversubscribed when everybody in fact knows that only 12 per cent was subscribed?

(Interruptions.)

Mr. J. Gibbons: Information on James M. Gibbons Zoom on James M. Gibbons Deputy L'Estrange should get in touch with Radio-Telefís Éireann.

Mr. Clinton: Information on Mark A. Clinton Zoom on Mark A. Clinton Could the Parliamentary Secretary say whether the figure he has given of national debt includes the debt of local authorities?

Mr. L'Estrange: Information on Gerald L'Estrange Zoom on Gerald L'Estrange No, that is millions more.

Mr. Gibbons: I gave a reply to the question I was asked.


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