Richard Bruton
Question:110 Mr. R. Bruton asked the Minister for Finance the forecast for dividends from State companies which underpin the 2004 Estimates. [27979/03]
Written Answers. - Fiscal Policy.
The opening position for 2004 will be published in the White Paper on receipts and expenditure on 29 November 2003 and this will include a forecast for dividends from State companies.
Richard Bruton
Question:111 Mr. R. Bruton asked the Minister for Finance the rate of interest payable in Government borrowing each month in 2002 and in 2003 to date; and his forecast for 2004. [27980/03]
Government borrowing is undertaken through a variety of instruments. These include maturities which range from the very short-term in the cash market to long-term in the bond market, in addition to a range of personal savings products.
The main source of Government borrowing in 2002 and 2003 was the sale of Government bonds. The NTMA have provided me with details of each Government bond auction held in 2002 and 2003 to date, including the weighted average yield to redemption on the amount of bonds sold in each auction. This information is set out in table 1.
The cost of borrowing in 2004 will depend on market developments during that period. The current yields to redemption on the benchmark Irish Government bonds are shown in table 2.
Table 1
Bond Auctions in 2002 and 2003
|
Date |
Bond |
Amount |
Weighted Average Yield to Redemption |
|
€ million |
% |
||
|
Year 2002 |
|||
|
21 February |
4.25% Treasury Bond 2007 |
720 |
4.799 |
|
21 March |
5% Treasury Bond 2013 |
600 |
5.464 |
|
18 April |
4.25% Treasury Bond 2007 |
720 |
5.009 |
|
16 May |
5% Treasury Bond 2013 |
720 |
5.468 |
|
20 June |
4.25% Treasury Bond 2007 |
600 |
4.694 |
|
18 July |
5% Treasury Bond 2013 |
720 |
5.133 |
|
15 August |
4.25% Treasury Bond 2007 |
600 |
4.193 |
|
19 September |
5% Treasury Bond 2013 |
600 |
4.570 |
|
17 October |
4.6% Treasury Bond 2016 |
720 |
5.068 |
|
21 November |
4.25% Treasury Bond 2007 |
600 |
3.84 |
|
Year 2003 |
|||
|
20 February |
3.25% Treasury Bond 2009 |
1,200 |
3.374 |
|
18 April |
4.6% Treasury Bond 2016 |
650 |
4.453 |
|
15 May |
3.25% Treasury Bond 2009 |
780 |
3.244 |
|
19 June |
4.6% Treasury Bond 2016 |
600 |
4.057 |
|
17 July |
3.25% Treasury Bond 2009 |
600 |
3.381 |
|
21 August |
5% Treasury Bond 2013 |
720 |
4.213 |
|
18 September |
3.25% Treasury Bond 2009 |
720 |
3.558 |
|
16 October |
3.25% Treasury Bond 2009 |
700 |
3.748 |
Table 2
|
Bond |
Yield to Redemption |
|
% |
|
|
4.25% Treasury Bond 2007 |
3.34 |
|
3.25% Treasury Bond 2009 |
3.70 |
|
5% Treasury Bond 2013 |
4.29 |
|
4.6% Treasury Bond 2016 |
4.52 |