Dáil Éireann Debate, Wednesday - 14 January 2015
112. Deputy Michael McGrath asked the Tánaiste and Minister for Social Protection if she will provide in tabular form details of all loans received by the Social Insurance Fund in each year from 2011 to 2014; and if she will make a statement on the matter. [1738/15]
View answerSection 18 of the Social Welfare and Pensions Act 2012 made provision for the Social Insurance Fund (SIF) to borrow monies directly from the Exchequer Central Fund via the Pay Master General (PMG) for temporary cashflow purposes given the timing differences between SIF related expenditure, which is evenly spread throughout each month, while the bulk of PRSI income is received in the latter days of each month.
The following table sets out the details of all loans advanced by the Central Fund to the SIF for the years 2012 to 2014. All loans were repaid in full within one month of their receipt.
SIF Central Fund Loan 2012-2014
|
Month |
Bal b/f |
Loans Received |
Total Paid Back |
Bal c/f |
|
Dec-12 |
€0 |
(€300,000,000) |
€300,000,000 |
€0 |
|
Dec-13 |
€0 |
(€300,000,000) |
€285,000,000 |
(€15,000,000) |
|
Jan-14 |
(€15,000,000) |
(€500,000,000) |
€15,000,000 |
(€500,000,000) |
|
Feb-14 |
(€500,000,000) |
(€300,000,000) |
€800,000,000 |
€0 |
|
Mar-14 |
€0 |
(€350,000,000) |
€350,000,000 |
€0 |
|
Apr-14 |
€0 |
(€350,000,000) |
€343,000,000 |
(€7,000,000) |
|
May-14 |
(€7,000,000) |
(€350,000,000) |
€357,000,000 |
€0 |
|
Jun-14 |
€0 |
(€350,000,000) |
€350,000,000 |
€0 |
|
Jul-14 |
€0 |
(€400,000,000) |
€352,000,000 |
(€48,000,000) |
|
Aug-14 |
(€48,000,000) |
(€300,000,000) |
€348,000,000 |
€0 |
|
Sep-14 |
€0 |
(€300,000,000) |
€300,000,000 |
€0 |
|
Oct-14 |
€0 |
(€250,000,000) |
€250,000,000 |
€0 |
|
Nov-14 |
€0 |
(€150,000,000) |
€150,000,000 |
€0 |
|
Dec-14 |
€0 |
(€400,000,000) |
€400,000,000 |
€0 |
