asked the Minister for Finance the aggregate sum to date involved in advances made from public funds to Taiscí Stáit Teoranta under the provisions of section 14 (3) of the Taiscí Stáit Teoranta Act, 1963.
Ceisteanna—Questions. Oral Answers. - Advances to Taiscí Stáit Teoranta.
105.
Mr. Barrett
The aggregate amount of advances made to date from public funds to Taiscí Stáit Teoranta is £1,252,730.
106.
Mr. Barrett
asked the Minister for Finance if he will give details of the payments made to Taiscí Stáit Teoranta from public funds since 1st April 1967; of the objects for which such advances were made; and of the terms as to repayment and interest and any other matters that were determined by him in the making of such advances.
The amount of advances made from public funds to Taiscí Stáit Teoranta since 1st April, 1967, is £168,730. Of this sum £5,000 was required by the company to make a payment under a management agreement with the Industrial Credit Company, Limited. The balance was required to finance instalments of loans by the company as follows:—
|
£ |
|
|
Avongate Milk Products, Ltd. |
67,500 |
|
Kerry Precision Ball Co., Ltd. |
53,000 |
|
Douwe Egberts (Ireland), Ltd. |
41,350 |
|
Carbery Milk Products, Ltd. |
1,880 |
The terms as to repayment and interest for the advances from public funds have not yet been determined by me as the loans made by the company, which are in part-substitution for industrial grants, are interestfree for a period of years and are repayable only at the option of the borrowers.