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Dáil Éireann debate -
Wednesday, 29 Oct 1958

Vol. 171 No. 2

Ceisteanna—Questions. Oral Answers. - Post Office Banks Deposits: Saving Certificates Sales.

asked the Minister for Finance if he will state the total of the Post Office savings bank and savings certificate deposits and sales (less withdrawals and repayments) for 1958 so far as available, and for the similar period of 1957, and the economic reason for any variation.

The totals of Post Office savings bank deposits and of sales of savings certificates (less withdrawals and repayments) during the first nine months of 1958 were £722,000 and £452,000, respectively. The totals for the corresponding period of 1957 were £1,731,000 and £1,248,000.

The reduction in 1958, in part, reflects a tendency of savings generally to fall off somewhat compared with the sharp increase in 1956 and 1957. The net amount of deposits and sales may also have been affected by withdrawals for investment in the E.S.B. loan issued in the spring of 1958 and for expenditure on foreign travel in 1958 in connection with the Lourdes Centenary.

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