andMr. Bruton asked the Minister for Industry, Commerce and Energy the nature of the liabilities of £26.1 million which he had on 30 June 1978 under section 2 of the Insurance Act, 1953; the amount of such liabilities in each of the previous five years; and if steps are being taken to reduce the liabilities.
Written Answers. - Insurance Act Liabilities.
436.
The figures returned to the Oireachtas in pursuance of section 3(2) of the Insurance Act, 1953 show the aggregate amount of the liability of the Minister in respect of arrangements under section 2 of the Act entered into during the preceding six months.
The relevant figures over the past five years are as follows:
|
Year |
6 months ended 30 June |
6 months ended 31 December |
|
£ |
£ |
|
|
1978 |
26,108,747 |
— |
|
1977 |
17,228,673 |
8,384,826 |
|
1976 |
10,898,497 |
10,435,593 |
|
1975 |
10,198,255 |
10,825,515 |
|
1974 |
8,518,567 |
6,265,485 |
|
1973 |
4,128,170 |
6,643,814 |
The arrangements under section 2 of the Act refer to guarantees with respect to the insurance of risks in connection with exports. I have no intention of taking any steps to reduce the level of the liabilities in question as to do so would be contrary to the Government's established policy of encouraging exports. I hope that the liabilities will continue to increase. I regret the attitude of the Deputies.