Michael Colreavy
Question:57. Deputy Michael Colreavy asked the Minister for Finance the effects on the Exchequer and Central Fund of the sale of Irish Life. [10570/13]
View answerThursday, 28 February 2013
Questions (57)
Written answers
The sale of Irish Life is a welcome development and provides the Irish taxpayer with a full return on its investment. There are two distinct aspects to this deal which have to be considered - the sale price of Irish Life of €1.3bn and an additional dividend due prior to completion of €40m. As such, upon completion of the deal, the Exchequer will benefit by the full amount of €1.34bn. The Deputy should be aware that the Central Fund and the Exchequer Account are one and the same.