Tuesday, 27 May 2014

Questions (166)

Joe Higgins

Question:

166. Deputy Joe Higgins asked the Minister for Finance the total amount of interest payments on the national debt for 2012, 2013 and projected for 2014; if he will break down the major entities in receipt of the interest by amount per entity. [23245/14]

View answer

Written answers (Question to Finance)

National debt cash interest and General Government interest expenditure for the years 2012 to 2014 are set out in the following table.

€ million

2012

2013

2014**

National Debt Cash Interest

5,679

7,316*

7,752

Interest Expenditure (EDP_D41)

6,135

7,681

7,966

*Provisional unaudited outturn.

**April 2014 SPU forecasts.

A high level breakdown of interest payable by debt product is currently available for 2012 see the following table. 

National Debt Cash Interest €million

2012

Government Bonds

4,075

EU/IMF Programme Funding

1,369

State Savings Schemes

284

Short Term Debt

39

Other

42

Interest Receivable

-129

Total

5,679

Rounding may affect totals.

It is the case that cash interest of just under €0.65 billion payable in 2013 on the floating rate bonds issued in 2013 to replace the IBRC Promissory Note was paid to the Central Bank of Ireland (CBI), as the holder of the floating rate bonds.