asked the Minister for Finance the total aggregate borrowing of all semi-State bodies for the years 1970 to 1981, inclusive.
5.
Ceisteanna—Questions. Oral Answers. - Semi-State Bodies Borrowing.
4.
Mr. Treacy
Mr. Treacy
asked the Minister for Finance the total aggregate external borrowing of all semi-State bodies for the years 1970 to 1981, inclusive.
(Clare): I propose to take Questions Nos. 4 and 5 together.
The information requested by the Deputy is as follows in respect of all semi-State bodies for the years 1970-1981 inclusive.
Total aggregate borrowing, £2,404 million; Total aggregate external borrowing, £1,236 million.
These figures represent the difference between debt outstanding at end-1969 and end-1981. They include repayable Exchequer advances and deposits from the public.
Is the Minister satisfied that there is adequate control over foreign borrowing by State bodies in view of the fact that they have shown a more rapid rate of increase even than foreign borrowing by the Government themselves?
(Clare): Yes, there should be control but it is difficult early in the year to give a definite amount in respect of foreign borrowing by State bodies because they are not sure what will be their programmes or their requirements. To set a definite figure at the beginning of the year could be quite difficult. With regard to questions in respect of State bodies, they should be directed to the Ministers responsible for particular State bodies in order to get more detailed information.
Will the Minister not agree that there is insufficient control in the Department of Finance over the borrowing policies of semi-State bodies not under the aegis of the Minister and that this matter would need to be given attention by the Minister and his colleagues?
(Clare): I will bring the Deputy's views to the attention of the Minister.
Does the Minister have the aggregate figures broken down under individual semi-State bodies?
(Clare): No, I have not that breakdown.
Will the Minister not admit that with the semi-State bodies owing more than £4,000 million, the nation's finances are in a deplorable mess? They are in a tail-spin——
That is not a question.
The survival of the nation is at stake.
I am calling Question No. 6.