Dáil Éireann debate -
Wednesday, 15 May 1968

Vol. 234 No. 10

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

106.

Mr. L'Estrange

asked the Taoiseach if he will state for the years ended 31st March, 1956 and 31st March, 1967 and at the latest available date (a) the total debt of all State and semi-State bodies under the jurisdiction of his Department 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.

107.

Mr. L'Estrange

asked the Minister for External Affairs if he will state, for the years ended 31st March, 1956 and 31st March, 1967 and at the latest available date (a) the total debt of all State and semi-State bodies under the jurisdiction of his Department and (b) the cost of servicing the debt.

Minister for External Affairs (Mr. Aiken)

There is no State or semi-State body under the jurisdiction of my Department and accordingly the Deputy's questions do not arise.

108.

Mr. L'Estrange

asked the Minister for Transport and Power if he will state, for the years ended 31st March, 1956 and 31st March, 1967 and at the latest available date (a) the total debt of all State and semi-State bodies under the jurisdiction of his Department and (b) the cost of servicing the debt.

Minister for Transport and Power (Mr. Childers)

Following is the information requested:—

State Company or Board	Year ended (a)	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	31/3/56	Nil	952,000	Nil	1,182,900	Nil	1,182,900	1,182,900	Nil	Nil	Nil
Teoranta (b)	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	31/3/56	Nil	1,425,005	Nil	Nil	Nil	Nil	Nil	Nil	Nil (d)	Nil
(b)	31/3/67	7,217,041	Nil	Nil	750,925	Nil	750,925	750,925	Nil	1,535,800	1,535,800
3. Aer Rianta	31/3/56	2,000,000	Nil	Nil	798,540 (c)	Nil	798,540	798,540	Nil	Nil	Nil
Teoranta (b)	31/3/67	51,269	Nil	Nil	Nil	Nil	Nil	Nil	Nil	Nil	Nil
4. Bord Fáilte	31/3/56	Nil	Nil	Nil	Nil	Nil	Nil	Nil	Nil	Nil	Nil
Éireann	31/3/67	Nil	Nil	Nil	Nil	Nil	Nil	Nil	Nil	Nil	Nil
5. Bord na Móna	31/3/56	Nil	Nil	10,119,096	Nil	10,119,096	Nil	10,119,096	304,007	Nil	304,007
	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	31/3/56	(e) Not a State company at this time.
Steampacket Co. Ltd.	31/12/67	1,600,000	Nil	Nil	Nil	Nil	Nil	Nil	Nil	Nil	Nil
7. Córas Iompair	31/3/56	Nil	23,403,800	3,233,800	Nil	3,233,800	23,403,543	26,637,343	121,100	833,669	954,769
Éireann (inc.				(k)
Óstlanna Iompair Éireann & Aerlód Teo.) (f)	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	31/3/56	Nil	10,000,000	54,861,789	Nil	54,861,789	10,000,000	64,861,789	2,829,092	650,000	3,479,092
Board	(g)		(h)
	31/3/67	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.	30/4/56	900,000	Nil	Nil	Nil	Nil	Nil	Nil	Nil	Nil	Nil
	31/3/67	11,427,479	Nil	Nil	Nil	Nil	Nil	Nil	Nil	Nil	Nil
10. Shannon Free	31/3/56	Not a State company at this time.
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	31/3/56	2,900,000	34,780,805	68,214,685	1,981,440	68,214,685	34,202,083	102,416,768	3,254,199	1,483,669	4,737,868
	31/3/67	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)The latest figures available are for 31/3/67 except for the British and Irish Steampacket Company in respect of which 31/12/67 is the date of the most recent figures.

(b) In 1956 Aer Rianta was a holding company for Aer Lingus and Aerlínte. Thus the two operating Companies, Aer Lingus and Aerlínte, had no share capital subscribed direct by the Exchequer. All their capital was subscribed by Aer Rianta.

(c) The figure of £798,540 shown for 1956 is a loan given by Aerlínte to Aer Rianta. At this time Aerlínte was not in active operation and the original capital of £1,425,005, together with a £457,005 profit on sale of aircraft was disposed of by advance to the Minister for Finance of £1,083,470 and advance of £798,540 to Aer Rianta (of which £709,740 was advanced by Aer Rianta to Aer Lingus).

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

(e) The British & Irish Steampacket Co. Ltd. was acquired from Coast Lines Ltd. in 1965 at a cost of £3,606,922. The nominal share capital of the Company is £1,600,000.

(f) Óstlanna Iompair Éireann and Aerlód Teo. are wholly owned subsidiaries of Córas Iompair Éireann which provides all their capital and to which interest payments are made. OIE, was founded in 1961 and Aerlód in 1964.

(g) Position as at 31/3/1967 but takes account of final calls on ESB. £7 million Stock paid on 26/4/1967 and 24/5/1967.

(h) Includes Stock issue.

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

(k) The loan capital amounting to £3,233,800 raised by CIE, from the Exchequer by 31st March, 1956 represents advances (since treated as non-repayable) to meet interest on stocks.

109.

Mr. L'Estrange

asked the Minister for Posts and Telegraphs if he will state, for the years ended 31st March, 1956 and 31st March, 1967 and at the latest available date, (a) the total debt of all State and semi-State bodies under the jurisdiction of his Department 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 Broadcasting Authority was not established until June 1st, 1960.

The particulars requested by the Deputy are as follows:—

31st March, 1967	31st March, 1968
(a) £2,076,205	£2,140,765*
(b) £112,575	£113,213*

*Provisional—subject to audit.

110.

Mr. L'Estrange

asked the Minister for Agriculture and Fisheries if he will state, for the years ended 31st March, 1956 and 31st March, 1967 and at the latest available date, (a) the total debt of all State and semi-State bodies under the jurisdiction of his Department and (b) the cost of servicing the debt.

Minister for Agriculture and Fisheries (Mr. Blaney)

The following is the information requested so far as it is available:

State-sponsored Bodies for which the Minister for Agriculture and Fisheries is responsible (1)

Name of Body	Year ended	Paid Up Share Capital	Loan Capital	Total Debt(2)	Cost of Debt Servicing (3)
Held by Exchequer	Other	Raised from Exchequer	Other	Paid to Exchequer	Paid Elsewhere
		£	£	£	£	£	£	£
Cólucht Groighe Náisiúnta na hÉireann Teo.	31/12/1956	395,880	Nil	Nil	Nil	395,880	Nil	Nil
	31/12/1966	395,880	Nil	Nil	12,277	408,157	Nil	642 (4)
Bord Grain	31/8/1966	Nil	Nil	Nil	412,134	412,134	Nil	114,177 (4)
Pigs and Bacon Commission	31/12/1956	Nil	Nil	Nil	Nil	Nil	Nil	Nil
	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	31/3/1956	Nil	Nil	782,442	Nil	782,442	40,724 (5)	628
	31/3/1967	Nil	Nil	1,660,207	Nil	1,660,207	179,250 (6)	403
Dairy Disposal Co. Ltd. and Associated Companies	31/12/1956	Nil	20,022 (7)	584,602 584,602	1,400,226 (8)	2,004,900	26,307	34,205
	31/12/1966	Nil	20,072 (7)	584,602	2110,684 (8)	2715,308	35,076	100,862
Dublin District Milk Board	31/12/1956	Nil	Nil	Nil	18,909	18,909	Nil	(9)
	31/12/1967	Nil	Nil	Nil	63,581	63,581	Nil	(9)
Cork District Milk Board	31/12/1956	Nil	Nil	Nil	508	508	Nil	(9)
	31/12/1967	Nil	Nil	Nil	4,048	4,048	Nil	(9)
Salmon Research Trust of Ireland Incorporated.	31/12/1956	Nil	Nil	Nil	Nil	Nil	Nil	Nil
	31/12/1967	Nil	Nil	Nil	7,226 (10)	7,226	Nil	Nil
Inland Fisheries Trust Incorporated	31/12/1956	Nil	Nil	Nil	1,543	1,543	Nil	7 (4)
	31/12/1967	Nil	Nil	Nil	197	197	Nil	155 (4)

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 (£14,441) and interest (£26,283).

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

(7)Held by the Directors on behalf of the Minister for Finance.

(8)Bank overdraft less cash in hands.

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

(10)Interest-free loan.

111.

Mr. L'Estrange

asked the Minister for Local Government if he will state, for the years ended 31st March, 1956 and 31st March, 1967 and at the latest available date, (a) the total debt of all State and semi-State bodies under the jurisdiction of his Department and (b) the cost of servicing the debt.

Minister for Local Government (Mr. Boland)

The following is the information required:—

1. National Building Agency:
(a) Total debt as at 31st March, 1956(N.B.A. not established until 1961)	Nil
Total debt as at 31st March, 1967	£1,142,218
Total debt as at 31st March, 1968	£1,380,813
(b) Annual cost of servicing the debt at 31st March, 1967	£79,803
Annual cost of servicing the debt at 31st March,1968	£96,939

2. An Foras Forbartha:

(a) Nil.

(b) Nil.

3. National Building Advisory Council:

(a) Nil.

(b) Nil.