asked the Minister for Finance if he will state the main headings which have caused expenditure for (a) Central Fund and (b) Supply Services to be £5.8 million less than last year for the months of April and May.
Ceisteanna—Questions. Oral Answers. - Expenditure on Central Fund and Supply Services.
The Deputy is presumably referring to the Exchequer statement publishing in Iris Oifigiúil on 3rd June, 1958.
The reduction is due in the main to revised arrangements made in January of this year for the financing of the Paymaster-General's supply account. Prior to January last, there was a monthly settlement between the Exchequer and this accounts, i.e., in addition to making Exchequer issues day by day to cover the payable orders presented for encashment a balancing issue was made on the last day of each month to cover orders issued but not yet presented for payment. These balancing issues are now made on a quarterly instead of a monthly basis. The change was made to minimise in the need for temporary borrowing in the course of a quarter and accounts for £4.3 million of the £5.8 million referred to by the Deputy.
Of the balance of £1.5 million various supply services accounts for £0.2 million while Central Fund Services account for £1.3 million as follows:
|
£ million |
|
|
Issues to the Capital Fund |
0.42 |
|
Issues to the Capital Services Redemption Account |
0.50 |
|
Issues to the road fund |
0.21 |
|
Service of the 3¼ per cent.National Security Loan |
0.19 |
The Deputy will, therefore, appreciate that comparisions on a quarterly basis with last year would be more appropriate.
From what date does the Minister say that arrangement began to operate?
From 1st January last.