Thursday, 17 April 2014

Questions (61)

Luke 'Ming' Flanagan

Question:

61. Deputy Luke 'Ming' Flanagan asked the Minister for Finance if he has investigated the effect on the State's finances of the Central Bank of Ireland accelerating its disposal of the Irish Government bonds in its investment account; if he has further investigated the potential effect on the State's finances of such an accelerated disposal; and if he will make a statement on the matter. [18328/14]

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Written answers (Question to Finance)

I am advised that no specific investigation of the type described has been conducted by the Department. As the Deputy will be aware the Central Bank has committed to disposing of these bonds as soon as possible provided conditions of financial stability permit. The Central Bank of Ireland provide the Department of Finance with an estimate of expected surplus income to be paid to the Central Fund on a regular basis. This estimate is considered by the Department and will continue to form part of the Government's overall budgetary strategy.