asked the Minister for Finance the amount borrowed by the Government during the period 1957 to 1967; and the amount of interest paid thereon.
Ceisteanna—Questions Oral Answers. - Government Borrowing.
46.
The net amount of Exchequer borrowing over the period 1957 to 1967 was £489 million. It is estimated that over this period £90 million was paid as interest on this borrowing.
Is the Minister aware that the President said in 1948 that no Government should borrow unless they were able to repay all the money? Does the Minister think the Government are in a position to repay all they have borrowed in the past ten years?
There is no doubt whatever about that.
No doubt whatever?
At the end of last year we carried out a most successful conversion operation in paying one of our outstanding loans.
Time will tell.