State Savings Schemes

Dáil Éireann Debate, Tuesday - 5 February 2013

Tuesday, 5 February 2013

Questions (261)

Brendan Griffin

Question:

261. Deputy Brendan Griffin asked the Minister for Finance if he will reinstate higher interest rates for savers who save up to €10,000 in State saving schemes; and if he will make a statement on the matter. [5425/13]

Written answers

Minister for Finance

I am informed by the National Treasury Management Agency (NTMA), that reductions in the interest rates across the full range of State Savings products were announced in December 2012. This was done at a time when rates in the deposit market generally were coming down with the objective of remaining competitive while not incurring interest costs above the levels generally prevailing in the market on Government borrowings. The NTMA will continue to monitor market interest rates but at this time does not propose to increase interest rates for particular categories of saver.