asked the Minister for Finance if he will state how much of the proceeds, if any, of the 5 per cent. National Loan recently floated was utilised by the Government to repay ways and means advances to the Exchequer and/or to pay off Exchequer Bills.
Ceisteanna—Questions. Oral Answers. - Utilisation of National Loan.
As I stated in reply to a question by Deputy Rooney on the 5th instant, the entire proceeds of the recent 5 per cent. National Loan were used to finance capital expenditure by the Exchequer. Pending the flotation of the loan such expenditure had been met in part by temporary borrowings which were repaid when the proceeds of the loan became available. The amount of Exchequer Bills repaid was£10,000,000 and of ways and means advances, £5,500,000.
That is a total of £15,500,000.