asked the Minister for Finance if the underwriting arrangement said to have been entered into in respect of £6,000,000 of the Fourth National Loan involved (a) the same or (b) a less charge upon the State than the amount of the Interest and Sinking Fund payments in respect of the public issue.
Ceisteanna—Questions. Oral Answers. - Cost of Underwriting Fourth National Loan.
The underwriting arrangement entered into in respect of the Fourth National Loan involved a less charge upon the State than the annual amount of the interest and Sinking Fund charges in respect of that portion of the Loan subscribed for by the general public.
So the Minister has been able to get underwriting arrangements carried through involving a less charge upon the State than the charges in respect of the portion of the Loan subscribed by the general public?
I have said so.
If so, why did the Minister go for that at all since he exposed himself to the rebuff he got?