Dáil Éireann debate -
Tuesday, 9 Nov 1965

Vol. 218 No. 8

Ceisteanna—Questions. Oral Answers. - Inflow of Capital.

2.

Mr. L'Estrange

asked the Taoiseach the total inflow of foreign capital each year since 1955 (a) to develop industrial potentialities, (b) to purchase land, and (c) for other purposes.

Mr. Carty

The inflow of foreign capital may appear under a number of headings in the Balance of Payments Statement, but it is not possible from the available information to compile a reliable estimate of the total of such inflows.

I propose, with your permission, Sir, to circulate in the Official Report a statement showing the entries in the capital account of the Balance of Payments Statements, for each year 1955 to 1964. Details for the separate categories mentioned by the Deputy are not available.

Following is the statement:

ESTIMATED CAPITAL ACCOUNT OF THE BALANCE OF INTERNATIONAL PAYMENTS IN THE YEARS 1955-1964.

Category	1955	1956	1957	1958	1959
Inward or Credit Movements	Outward or Debit Movements	Inward or Credit Movements	Outward or Debit Movements	Inward or Credit Movements	Outward or Debit Movements	Inward or Credit Movements	Outward or Debit Movements	Inward or Credit Movements	Outward or Debit Movements
	£000
Government Transactions:
(a) Changes in holdings of Trustee Savings Banks and Government Funds	1,085	—	12,948	—	2,594	—	—	414	11	6,304
(b) Indebtedness to Government of United States of America under European Recovery Programme	—	—	—	231	—	237	—	243	—	524
(c) Payments to International Institutions (IMF, IBRD, IFC IDA)	—	—	—	—	—	2,000	—	279	—	1,522
Changes in external funds of the Central Bank	6,392	—	2,880	—	—	8,602	—	1,446	577	—
Banking Transactions—changes in net external assets	35,621	—	—	2,674	—	2,155	—	14,392	1,435	—
Purchase and sales of securities by private holders through Irish stock-brokers and banks	9,802	10,604	7,845	8,337	11,008	11,969	10,613	10,962	17,579	17,175
Movements arising out of capital issues by companies:
(a) Public issues	1,161	—	—	—	66	—	290	—	—	—
(b) Private issues	148	—	231	—	107	—	3,311	—	468	—
Net capital payments in respect of life insurance	—	952	—	931	—	890	—	800	—	880
Withdrawals from British Post Office Savings Banks	446	—	478	—	484	—	481	—	509	—
Encashment of British Savings Certificates	56	—	61	—	53	—	48	—	39	—
Other capital transactions	1,678	9,320	8,002	5,828	5,910	3,558	18,350	3,570	17,230	2,720
Balance on Capital Account	—	35,513	—	14,444	9,189	—	—	987	—	8,723
TOTAL	56,389	56,389	32,445	32,445	29,411	29,411	33,093	33,093	37,848	37,848

ESTIMATED CAPITAL ACCOUNT OF THE BALANCE OF INTERNATIONAL PAYMENTS IN THE YEARS 1955-1964.

Category	1960	1961	1962	1963	1964
Inward or Credit Movements	Outward or Debit Movements	Inward or Credit Movements	Outward or Debit Movements	Inward or Credit Movements	Outward or Debit Movements	Inward or Credit Movements	Outward or Debit Movements	Inward or Credit Movements	Outward or Debit Movements
	£000
Government Transactions:
(a) Changes in Holdings of Trustee Savings Banks and Goverment Funds	2,487	—	—	52	2,955	—	—	976	14,756	—
(b) Indebtedness to Government of United States of America under European Recovery Programme	—	536	—	552	—	793	—	817	—	836
(c) Payments to International Institutions (IMF, IBRD, IFC, IDA)	—	299	—	246	—	246	—	897	—	586
Changes in External Funds of the Central Bank	—	2,456	—	6,650	—	8,472	—	15,068	—	28,479
Banking Transactions—changes in net external assets	—	101	—	7,833	—	3,701	13,189	—	8,500	—
Purchase and sales of securities by private holders through Irish stock-brokers and banks	14,450	14,697	13,463	13,143	15,139	16,127	15,930	15,272	17,505	17,537
Movements arising out of capital issues by companies:
(a) Public issues	112	—	103	—	—	—	969	—	5,256	—
(b) Private issues	695	—	2,375	—	1,443	—	2,195	—	2,268	—
Net capital payments in respect of life insurance	—	1,480	—	1,725	—	2,060	—	2,250	—	2,400
Withdrawals from British Post Office Savings Banks	462	—	568	—	591	—	586	—	575	—
Encashment of British Savings Certificates	51	—	41	—	39	—	35	—	41	—
Other capital transactions	8,400	6,260	16,451	3,960	30,250	5,580	26,700	2,220	39,510	7,130
Balance on Capital Account	—	828	1,160	—	—	13,438	—	22,104	—	31,443
TOTAL	26,657	26,657	34,161	34,161	50,417	50,417	59,604	59,604	88,411	88,411