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Dáil Éireann debate -
Tuesday, 4 Feb 1969

Vol. 238 No. 2

Written Answers. - State and Semi-State Indebtedness.

175.

asked the Minister for Labour (a) the total amount of debt of State and semi-State bodies under the aegis of his Department at the latest available date and (b) the cost of servicing it.

The answer is none.

176.

asked the Minister for Finance (a) the total amount of debt of State and semi-State bodies under the aegis of his Department at the latest available date and (b) the cost of servicing it.

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)

Total Debt (including share capital)

Cost of servicing debt during previous year

Body

Latest available date (a)

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

£

£

£

£

£

£

£

£

£

Agricultural Credit Corporation Ltd.

30/4/1968

5,598,000

6,550,000

7,654,312

12,148,000

7,654,312

505,120(f)

433,591

938,711

Cómhlucht Siúicre Éireann Teo. Group

30/4/1968

4,499,958

500,042

1,000,000(b)

5,316,006

5,499,958

5,816,048

74,531(e)

202,827(g)

277,358

Industrial Credit Co. Ltd.

31/10/1967

8,829,356

644

7,853,000(c)

2,254,351

16,682,356

2,254,995

332,796

128,860

461,656

Irish Life Assurance Co. Ltd.

31/12/1967

90,253

9,747

1,250,000

90,253

1,259,747

23,466(e)

40,156(h)

63,622

Taiscí Stáit Teo.

31/3/1968

100

1,325,030(d)

1,325,130

TOTALS

19,017,667

510,433

16,728,030

16,474,669

35,745,697

16,985,102

935,913

805,434

1,741,347

(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 was not payable on £2,536,490 of these loans.

Part of this sum was used for special re-equipment loans in lieu of adaptation grants and was interest-free for five years.

The balance was invested in Industrial Engineering Co. Ltd., Dundalk, and Verolme Cork Dockyard Ltd. The I.C.C. investment in Verlome has since been transferred to Taiscí Stáit Teo while the investment in the Industrial Engineering Company has been taken over by the State.

The manufacturing activities at Dundalk have been sold to private enterprise.

(d)The terms as to interest and repayment have not yet been determined by the Minister for Finance.

(e)Represents dividend paid net of tax.

(f)Includes £123,675 dividend paid net of tax.

(g)Includes £19,875 dividend on Preference shares paid net of tax.

(h)Includes £2,534 dividend paid net of tax.

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