asked the Minister for Finance (a) what legal or other obstacles exist to his issuing the annual national loan for an unlimited amount; and (b) whether he will consider issuing further national loans at intervals shorter than once a year.
Ceisteanna—Questions. Oral Answers. - National Loans.
3.
In practice, there is no legal obstacle to the issue of a national loan for an unlimited amount. The amount for which the annual national loan is issued is, however, determined in the light of prevailing market conditions and is calculated to attract, on reasonable terms, the maximum amount available for this type of investment. I am not satisfied that the issue of a national loan at intervals shorter than one year would result in an investment greater than at present. I might point out, however, that in addition to a national loan there is generally at least one State-guaranteed stock issue each year by a semi-State body, the proceeds of which help in financing the State capital programme.