Vol. 548 No. 5
61 Mr. M. Higgins asked the Minister for Finance the numbers of applications received for the special savings investment scheme at the latest date for which figures are available; if, on the basis of such figures, his Department has an assessment of the likely cost to the Exchequer of the special savings investment scheme; and if he will make a statement on the matter. [5564/02]
The number of SSIAs in operation will not be available until after 28 February, when the first comprehensive annual returns giving details of individual accounts are furnished by the qualifying savings managers.
As I have indicated before in replying to Dáil questions regarding, inter alia, the likely cost of the scheme, it is difficult to estimate the Exchequer cost of the SSIA scheme because of its very nature – the size of the Exchequer contribution will depend on take-up by participants in the scheme. The Exchequer cost of the first nine months of operation is €107.4 million but it should be noted that the figure for January included in the total is provisional. It is estimated that the cost to the Exchequer in 2002 would be of the order of €250 million.
