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Dáil Éireann debate -
Wednesday, 21 May 1969

Vol. 240 No. 10

Ceisteanna—Questions. Oral Answers. - National Debt.


asked the Minister for Finance the increase in the national debt between 31st March, 1956, and 31st March, 1969; and the increase in the cost of servicing it between the same years.

It is estimated that the increase in the national debt between 31st March, 1956 and 31st March, 1969 amounted to £605 million. Over the same period the annual cost of servicing the debt has increased by £59 million.

The Minister will admit that we borrowed more in the past ten years than was borrowed in the previous 30 years of the existence of this State?

It is a fact that the public capital programme of investment by the Government in desirable social and economic projects has been increasing year by year. We have been borrowing money to finance that programme and we are very proud to be able to do that. The public capital programme this year is the highest on record.

You have the people deeper and deeper in debt. You are running away today from your responsibilities and you are leaving it to somebody else to clear up the mess.

A Deputy

Do not worry.