Dáil Éireann Debate, Thursday - 18 November 2010
77 Deputy Michael McGrath asked the Minister for Finance if he will provide details of the way the funds invested in the national solidarity bond are managed by the National Treasury Management Agency; if there is any distinction between the use of these funds and the use of funds borrowed on the international markets by the NTMA; and if he will make a statement on the matter. [43470/10]
View answerThe State Savings schemes, including the National Solidarity Bond, are managed by the National Treasury Management Agency. The State Savings products are intended primarily for the retail investor. In the same way as funds borrowed by the Agency on the international and domestic markets, they are used to fund the Exchequer and form part of the National Debt.
78 Deputy Michael McGrath asked the Minister for Finance if he will provide details of the amount of money invested to date in the national solidarity bond; the number of persons who have made investments; and if he will make a statement on the matter. [43471/10]
View answerIn Budget 2010, I announced the Government's intention to launch a National Solidarity Bond, the purpose of which is to allow citizens an opportunity to invest and provide money to the State to stimulate economic recovery and to assist in the maintenance and creation of employment. The necessary legislative basis was provided in this year's Finance Act and the Bond was launched on Tuesday 4 May. I am informed by the National Treasury Management Agency that, at close of business on Friday, 12 November, a total of some €309 million had been invested in the Bond by 14,100 customers.
