Bernard J. Durkan
Question:54 Mr. Durkan asked the Minister for Finance the plans, if any, he has to use extra resources to reduce the national debt in the next 12 months; and if he will make a statement on the matter. [22664/99]
Vol. 510 No. 4
54 Mr. Durkan asked the Minister for Finance the plans, if any, he has to use extra resources to reduce the national debt in the next 12 months; and if he will make a statement on the matter. [22664/99]
55 Mr. McDowell asked the Minister for Finance the projected Exchequer surplus for the end of 1999; the manner in which it is intended to use this surplus; and if he will make a statement on the matter. [22757/99]
133 Mr. Durkan asked the Minister for Finance the degree to which it is proposed to reduce the national debt; the means by which this will be done; and if he will make a statement on the matter. [22948/99]
I propose to take Questions Nos. 54, 55 and 133 together.
In my budget on 1 December, I will set out the position in relation to the budget balance for the years 2000 through to 2002, When a deficit arises in any year, it has the effect of increasing the national debt. Any budget surpluses are automatically applied towards reducing the national debt.
The level of, and year on year change in the national debt for the past five years are set out in tabular form below. Movements in this regard reflect the budget balance each year and other factors such as currency movements.
Year |
Level of National Debt(IR£m) |
Year on Year Change(IR£m) |
1993 |
28,357 |
|
1994 |
29,227 |
+870 |
1995 |
30,209 |
+982 |
1996 |
29,912 |
-297 |
1997 |
30,688 |
+776 |
1998 |
29,541 |
-1,147 |