asked the Minister for Finance whether there is any barrier preventing the investment by the Government of the funds of the Post Office Savings Bank in Irish securities including Irish local authorities' stock and, if not, whether he will take steps to ensure that in future these funds will be retained in this country and invested in Irish securities.
Ceisteanna—Questions. Oral Answers. - Post Office Savings Bank's Investments.
There is no barrier preventing the investment by the Minister for Finance of the funds in the Post Office Savings Bank in Irish securities, and, in fact, on 31st ultimo 55 per cent. of the fund was so invested. It is not possible to give the unqualified assurance requested in the last part of the Deputy's question, but moneys to the credit of the fund will, as in the past, be invested in Irish securities to the extent to which such an investment policy is prudent having regard to the nature of the liabilities of the fund.
Hear, hear!