Paul McGrath
Question:140 Mr. P. McGrath asked the Minister for Finance the monthly top-up payments made to investors in the SSIA since the introduction of this savings scheme. [10032/03]
Written Answers - Special Savings Incentive Scheme.
I am informed by the Revenue Commissioners that the monthly tax credit payout made to investors in the special savings incentive accounts (SSIA) since the introduction of this savings scheme is as follows:
|
Month |
2001 |
2002 |
2003 |
|
€ million |
€ million |
€ million |
|
|
January |
– |
17.8 |
44.1 |
|
February |
– |
19.3 |
44.8 |
|
March |
– |
21.0 |
44.1 |
|
April |
– |
25.6 |
– |
|
May |
– |
43.1 |
– |
|
June |
2.0 |
44.4 |
– |
|
July |
6.1 |
43.5 |
– |
|
August |
9.1 |
44.1 |
– |
|
September |
11.0 |
43.6 |
– |
|
October |
12.6 |
43.6 |
– |
|
November |
14.2 |
43.5 |
– |
|
December |
16.0 |
43.5 |
– |
|
Total |
71.0 |
433.0 |
133.0 |
The tax credit payout is made in the month following the month of subscription. It should also be pointed out that the monthly payout of €44.1 million made in March 2003 was lower than the figures for January and February 2003 and the reduction is mainly due to adjustments made in respect of January 2003 claims by some financial institutions.