The Department has been advised by the Health Service Executive (HSE) that it is progressing with the task of transferring past interest retained on invested patient private property accounts. A process to undertake this transfer, initially for the period 2005-2006, has been agreed. Following discussions with the Revenue Commissioners, the HSE has received confirmation that refunds will not give rise to any tax implications for either the individual client or the HSE. This confirmation now enables the HSE to commence the refund process. The Department has been advised by the HSE that it is working on proposals to refund interest retained on the investment of patient private property funds prior to 2005 and the confirmation received from the Revenue Commissioners will allow these proposals to be finalised. Until these proposals are agreed, the HSE has indicated that it will not be in a position to provide estimates of the cost of administering these refunds. The overall estimate for total refund of interest remains as previously advised, approximately €31m or approximately €48m when adjusted for inflation by reference to the Consumer Price Index.