Dáil Éireann debate -
Wednesday, 31 Jan 1968

Vol. 232 No. 1

Written Answers. - Indebtedness of Semi-State Bodies and Boards.

220.

Mr. L'Estrange

asked the Taoiseach (a) the total debt of all semi-State bodies, or any boards or bodies under the jurisdiction of his Department, at the latest available date; and (b) the cost of servicing the debt.

The Taoiseach

The answer to the first part of the Deputy's question is "nil". The second part of the question does not, therefore, arise.

221.

Mr. L'Estrange

asked the Minister for External Affairs (a) the total debt of all semi-State bodies, or any boards or bodies under the jurisdiction of his Department, at the latest available date; and (b) the cost of servicing the debt.

Minister for External Affairs (Mr. Aiken)

The answer to both parts of the question is "nil".

222.

Mr. L'Estrange

asked the Minister for Transport and Power (a) the total debt of all semi-State bodies, or any boards or bodies under the jurisdiction of his Department, at the latest available date; and (b) the cost of servicing the debt.

Minister for Transport and Power (Mr. Childers)

Following is the information requested—

State Company Board	Year ended	Share Capital	Loan Capital	Total Debt	Cost of servicing debt during year
Subscribed by Exchequer	Subscribed by public	Raised from Exchequer	Raised otherwise	Exchequer	Other	Total	Paid to Exchequer	Paid otherwise	Total
1. Aer Lingus Teoranta	31/3/67	6,393,003	Nil	Nil	8,603,730	Nil	8,603,730	8,603,730	Nil	740,978	740,978
2. Aerlínte Teoranta	31/3/67	7,217,041	Nil	Nil	750,925	Nil	750,925	750,925	Nil	1,535,800(a)	1,535,80
3. Aer Rianta Teoranta	31/3/67	51,269	Nil	Nil	Nil	Nil	Nil	Nil	Nil	Nil	Nil
4. Bord Fáilte Éireann	31/3/67	Nil	Nil	Nil	Nil	Nil	Nil	Nil	Nil	Nil	Nil
5. Bord na Móna	31/3/67	Nil	1,891,414	22,334,178	630,561	22,334,178	630,561	22,964,739	1,573,312	297,936	1,871,248
6. British & Irish Steampacket Co. Ltd.	31/12/66	1,600,000	Nil	Nil	Nil	Nil	Nil	Nil	Nil	Nil	Nil
		(b)
7. Córas Iompair Éireann (inc. Óstlanna Iompair Éireann & Aerlód Teo.) (c)	31/3/67	Nil	18,514,460	3,890,000	Nil	3,890,000	18,514,460	22,404,460	284,413	946,684	1,231,097
8. Electricity Supply Board	31/3/67(d)	Nil	51,001,417	58,449,257	449,183	58,449,257	51,450,600	109,899,857	3,473,086	4,448,868	7,921,954
9. Irish Shipping Ltd.	31/3/67	11,427,479	Nil	Nil	Nil	Nil	Nil	Nil	Nil	Nil	Nil
10. Shannon Free Airport Development Co. Ltd.	31/3/67	4,472,000	Nil	2,507,026	Nil	2,507,026	Nil	2,507,026	144,744	Nil	144,744
TOTALS		31,160,792	71,407,291	87,180,461	10,434,399	87,180,461	79,950,276	167,130,737	5,475,555	7,970,266	13,445,821

NOTES:

(a)Includes loan raised in April, 1966 and repaid with interest before end of financial year.

(b)The British and Irish Steampacket Co. Ltd. was acquired from Coast Lines Ltd. at a cost of £3,606,922. The nominal share capital of the Company is £1,600,000.

(c)Ostlanna Iompair Eireann and Aerlód Teo. are wholly owned subsidiaries of Córas Iompair Éireann which provides all th eir capital and to which interest payments are made.

(d)Position as at 31/3/67 but takes account of final calls on E.S.B. £7 million Stock paid on 26/4/1967 and 24/5/1967.

(e) Current debt (i.e. excess of creditors over debtors) is not included.

223.

Mr. L'Estrange

asked the Minister for Posts and Telegraphs (a) the total debt of all semi-State bodies, or any boards or bodies under the jurisdiction of his Department, at the latest available date; and (b) the cost of servicing the debt.

Minister for Posts and Telegraphs (Mr. Childers)

Radio Telefís Éireann is the only such body under my jurisdiction.

The particulars requested by the Deputy as at the 31st March, 1967, are as follows —

(a) £2,076,205.

(b) £112,575.

224.

Mr. L'Estrange

asked the Minister for Agriculture and Fisheries (a) the total debt of all semi-State bodies, or any boards or bodies under the jurisdiction of his Department, at the latest available date; and (b) the cost of servicing the debt.

Minister for Agriculture and Fisheries (Mr. Blaney)

Following is the information:

STATE SPONSORED BODIES FOR WHICH THE MINISTER FOR AGRICULTURE AND FISHERIES IS RESPONSIBLE.¹

Name of Body	Latest Accounts (year ended)	Paid Up Share Capital	Loan Capital	Total Debt²	Cost of Debt Servicing³
Held by Exchequer	Other	Raised from Exchequer	Other		Paid to Exchequer	Paid Eleswhere
		£	£	£	£	£	£	£
Colucht Groighe	31/12/1966	395,880	Nil	Nil	12,277	408,157	Nil	642 4
Náisiúnta na hÉireann Teo.
Bord Gráin	31/8/1966	Nil	Nil	Nil	412,134	412,134	Nil	114,177 4
Pigs and Bacon Commission.	31/12/1966	Nil	Nil	Nil	99,915	99,915	Nil	4,728
An Bord Bainne	31/3/1967	Nil	Nil	Nil	824,915	824,915	Nil	144,359
An Bord Iascaigh Mhara	31/3/1967	Nil	Nil	1,660,207	Nil	1,660,207	179,250 5	403
Dairy Disposal Co. Ltd. and Associated Companies	31/12/1966	Nil	20,022	584,602	2,110,684	2,715,308	35,076	100,862
Dublin District Milk Board	31/12/1966	Nil	Nil	Nil	23,967	23,967	Nil	(8)
Cork District Milk Board	31/12/1966	Nil	Nil	Nil	3,251	3,251	Nil	3
Salmon Research Trust of Ireland Incorporated	31/12/1966	Nil	Nil	Nil	7,142	7,142 9	Nil	Nil

NOTES:

1 Bodies which have no share capital or loan debt have been omitted.

2 Total of paid-up share capital and loan debt of the bodies listed on the final day of the accounting year. Investments or cash held by them on that date are disregarded.

3 Represents the cost of servicing the loan debt during the year and is not necessarily related to the amount of the debt outstanding at the end of the year. No dividends were paid on share capital.

4 Includes Bank charges.

5 Comprises repayment of principal (£81,883) and interest (£97,367).

6 Held by the Directors on behalf of the Minister for Finance.

7 Bank overdraft less cash in hands.

8 Only a figure for net interest is shown in the accounts and this is in favour of the Board.

9 Interest-free loan.

225.

Mr. L'Estrange

asked the Minister for Local Government (a) the total debt of all semi-State bodies, or any boards or bodies under the jurisdiction of his Department, at the latest available date; and (b) the cost of servicing the debt.

Minister for Local Government (Mr. Boland)

The following is the information required:

National Building Agency:
(a) Total debt as at 31st March, 196.7 —	£1,142,218
(b) Annual cost of servicing the debt —	£79,803
2. An Foras Forbartha
(a) Nil
(b) Nil
3. National Building Advisory Council
(a) Nil
(b) Nil

226.

Mr. L'Estrange

asked the Minister for Lands (a) the total debt of all semi-State bodies, or any boards or bodies under the jurisdiction of his Department, at the latest available date; and (b) the cost of servicing the debt.

Minister for Lands (Mr. Moran)

There is no such body or agency under the aegis of the Department of Lands.

227.

Mr. L'Estrange

asked the Minister for the Gaeltacht (a) the total debt of all semi-State bodies, or any boards or bodies under the jurisdiction of his Department, at the latest available date; and (b) the cost of servicing the debt.

Minister for the Gaeltacht (Mr. Moran)

Is mar seo a leanas atá na sonraí: —

Gaeltarra Éireann: ar 31 Márta, 1967, bhí iomlán £140,000 a airleacadh as an bPríomh-Chiste tar éis 1 Aibreán, 1965, nach mbeidh inaisíoctha go dtí cibé dáta a chinnfidh an tAire Airgeadais tar éis dó dul i gcomhairle liomsa.

Arramara Teoranta (ina bhfuil luach £39,000 de scaireanna agamsa agus luach £7,000 ag comhlacht eile): Ar 30 Meán Fómhair, 1966, bhí —

fuílleach £2,761 d'iasacht mhorgáiste á aisíoc trí bhlianacht £233 12s 6d agus

fuílleach £6,963 d'airleacain á aisíoc de réir a ndíoltar de thairgí.

228.

Mr. L'Estrange

asked the Minister for Defence (a) the total debt of all semi-State bodies, or any boards or bodies under the jurisdiction of his Department, at the latest available date; and (b) the cost of servicing the debt.

Minister for Defence (Mr. Hilliard)

The answer to both parts of the question is "nil."

229.

Mr. L'Estrange

asked the Minister for Labour (a) the total debt of all semi-State bodies, or any boards or bodies under the jurisdiction of his Department, at the latest available date; and (b) the cost of servicing the debt.

Minister for Labour (Dr. Hillery)

The answer to (a) of the question is none and (b) does not, therefore, arise.

230.

Mr. L'Estrange

asked the Minister for Finance (a) the total debt of all semi-State bodies, or any boards or bodies under the jurisdiction of his Department, at the latest available date; and (b) the cost of servicing the debt.

Minister for Finance (Mr. Haughey)

The following is the information requested: —

DEBT, INCLUDING SHARE CAPITAL, OF THE SEMI-STATE BODIES UNDER THE CONTROL OF THE MINISTER FOR FINANCE AT THE LATEST AVAILABLE DATE AND COST OF SERVICING DEBT DURING THE PREVIOUS YEAR.

(There is no debt in the case of the Central Bank of Ireland and the Racing Board).

	Latest available date (a)	Total Debt (including Share capital)	Cost of servicing debt during previous year
Body	Paid-up Share capital	Other Debt	Total
Held by Exchequer	Held otherwise	Raised from Exchequer	Raised otherwise	Exchequer	Other	Payable to Exchequer	Payable otherwise	Total
		£	£	£	£	£	£	£	£	£
Cómhlucht Siúicre Éireann Teo./Erin Foods Ltd.	30/4/1967	4,499,958	500,042	1,000,000	4,077,845	5,499,958	4,577,8
				(b)				(e)	(g)
Industrial Credit Co. Ltd.	31/10/1966	8,829,356	644	7,378,000	2,302,267	16,207,356	2,302,911	292,081	166,787	458,868
				(c)
Agricultural Credit Corporation Ltd.	30/4/1967	4,048,000	—	6,000,000	8,074,901	10,048,000	8,074,901	410,931	386,110	797,041
				(f)
Taiscí Stáit Teo.	31/3/1967	100	—	1,083,900	—	1,084,000	—	—	—	—
				(d)
Irish Life Assurance Co. Ltd.	31/12/1966	90,253	9,747	—	—	90,253	9,747	20,533	2,217	22,750
							(e)	(e)
TOTALS		17,467,667	510,433	15,461,900	14,455,013	32,929,567	14,965,446	796,670	784,283	1,580,953

(a)The accounting years vary. The figures in the Table are based on the most recently published accounts.

(b)The terms as to interest and repayment have not yet been determined by the Minister for Finance; this sum has been invested in the food processing project which is still at the development stage.

(c)By arrangement with the Minister for Finance interest is not at present payable on £2,378,784 of these loans. Part of this sum has been used for special re-equipment loans in lieu of adaptation grants and interest-free for five years; the balance has been invested in Industrial Engineering Co. Ltd., Dundalk, and Verolme Cork Dockyard Ltd.

(d)The terms as to interest and repayment have not yet been determined by the Minister for Finance; most of this sum has been invested in the share capital of Aviation Development Ltd.

(e)Represents dividend paid net of tax.

(f)Includes £59,164 dividend paid net of tax.

(g)Includes £19,500 dividend on Preference shares paid net of tax.