asked the Minister for Finance whether he can explain the discrepancy that appears to exist between the total of £152,360,000 given by him on the 17th May in reply to a question, as being the total capital liability of the State on the 31st March last and the total of £145,512,010 published in Table (6) of the White Paper issued by his Department in connection with his Budget Statement, which also purports to represent the total capital liabilities of the State on the 31st March, 1950.
Ceisteanna—Questions. Oral Answers. - State Capital Liability.
The apparent discrepancy is explained by the different methods used in computing the two figures. The figure of £152,360,000 given by me on 17th May was arrived at by taking the total capital liabilities of £145,512,010 shown in Table VI of the "Tables in connection with the Financial Statement, 1950", adding £11,833,000 which is the estimated capitalised value of State contributions under the Housing (Financial and Miscellaneous Provisions) Act, 1932, and then subtracting £4,985,000 being the estimated interest liability on foot of savings certificates. These adjustments were made in order that the figure at 31st March, 1950, would be comparable in all respects with the figures for previous years as shown in the relevant finance accounts. Table VI of the "Tables in connection with the Financial Statement, 1950", shows, in addition to principal, interest due on foot of savings certificates as a capital liability of the State, whereas in the finance accounts it has been customary to include principal only as a capital liability.