andMr. Harte asked the Minister for Finance the amount held in prize bonds during the year ended 31st March, 1972 taking one month with another; the cost to the Exchequer if investors had been paid interest at 8 per cent per annum; and the actual cost of prizes paid out.
Ceisteanna—Questions. Oral Answers. - Prize Bonds.
38.
The average monthly amount held in prize bonds during the year ended 31st March, 1972 was £33,637,000. The net cost to the Exchequer if investors had been paid interest at 8 per cent per annum on that amount would have been £1,749,000 assuming that the investors paid income tax at the standard rate or lower if some investors were sur-tax payers. The actual cost of prizes payable in respect of the year was £1,513,700, which, of course, was tax free.