asked the Minister for Industry and Commerce the amount of each advance made to Nítrigin Éireann Teoranta; the date on which each such advance was made; the total of the advances made to the 30th June of each year; the rate of interest that would have been applicable to each such advance if it had been made at the rate then applicable to advances from the Local Loans Fund; and the amount of interest that would have accrued at such rate to the 30th June of each year.
Ceisteanna—Questions. Oral Answers. - Advances to Nítrigin Éireann Teo.
68.
As the particulars requested by the Deputy are in the form of a tabular statement, I propose, with your permission, a Cheann Comhairle, to have the statement circulated with the Official Report.
Following is the statement:—
|
(1) |
(2) |
(3) |
(4) |
(5) |
|
Amount of Advance |
Date Issued |
Interest Rate |
Amount of interest at the lending rate arising in each financial year in respect of advances made to the Company up to the end of that year |
|
|
£ |
£ |
|||
|
Total advances in year to 30/6/62 |
12,000 |
5/1/62 |
6¼% |
571 |
|
12,000 |
26/3/62 |
6¼% |
||
|
10,000 |
26/6/62 |
6¼% |
||
|
34,000 |
||||
|
12,000 |
23/8/62 |
6¼% |
||
|
10,000 |
10/10/62 |
6¼% |
||
|
18,000 |
19/10/62 |
6¼% |
29,810 |
|
|
670,000 |
30/1/63 |
6% |
||
|
400,000 |
29/3/63 |
6% |
||
|
200,000 |
1/5/63 |
6% |
||
|
200,000 |
8/6/63 |
6% |
||
|
Total advances for year to 30/6/63 |
1,510,000 |
|||
|
Total advances for year to 30/6/64 |
100,000 |
9/7/63 |
6% |
|
|
100,000 |
9/8/63 |
6% |
||
|
260,000 |
25/9/63 |
6% |
||
|
320,000 |
4/10/63 |
6% |
||
|
330,000 |
1/11/63 |
6% |
||
|
20,000 |
2/12/63 |
6% |
160,475 |
|
|
275,000 |
3/2/64 |
6% |
||
|
150,000 |
10/3/64 |
6% |
||
|
300,000 |
20/4/64 |
6% |
||
|
300,000 |
11/5/64 |
6% |
||
|
130,000 |
10/4/64 |
6% |
||
|
2,285,000 |
||||
|
250,000 |
10/7/64 |
6% |
||
|
200,000 |
10/8/64 |
6% |
||
|
150,000 |
10/9/64 |
6% |
||
|
250,000 |
12/10/64 |
6% |
295,167 |
|
|
100,000 |
10/11/64 |
6% |
||
|
100,000 |
10/12/64 |
6% |
||
|
200,000 |
11/1/65 |
6¼% |
||
|
200,000 |
9/2/65 |
6¼% |
||
|
70,000 |
10/3/65 |
6¼% |
||
|
300,000 |
10/5/65 |
6¼% |
||
|
Total advances for year to 30/6/65 |
1,820,000 |
|||
|
361,851 |
||||
|
150,000 |
1/7/65 |
6¼% |
||
|
201,000 |
3/8/65 |
6¼% |
||
|
Total advances for year to 30/6/66 |
351,000 |
NOTE: The interest rates are those fixed in respect of the advances to Nítrigin Éireann Teoranta. The rates fixed were the Exchequer lending rates when the advances were made and which generally are equivalent to the Local Loans Fund lending rate.
Does the tabular statement include the Minister's apology for not having done this for the past four years?
No; nor does such an apology appear to be called for.
Then the Minister thinks it is normal to advance millions of public money and not determine any rate of interest on that money for a number of years?
This is not correct.
It is correct. I have read the auditor's report which made it clear that for a period of years the rate of interest was not fixed.
This is not correct.
Then is the Comptroller and Auditor General not telling the truth?
The Deputy is not correct.
The rate was not fixed on 30th June in respect of millions of public money.
The Deputy is mistaken. He should wait until he reads the tabular statement and then he will see that he is mistaken.
Either the Minister is mistaken or the Comptroller and Auditor General is not telling the truth. I prefer to believe the Comptroller and Auditor General, who knew what he was doing when he wrote that note to the report, and that the Minister is not being supplied with the correct information by the people in that particular State-sponsored body.
I do not know why the Deputy should make that last statement.
If the Minister will examine the files in his office, he will see that what I say is correct. That is one of the people who would not come and face me.