asked the Minister for Finance if he can state the cost involved to the Saorstát in respect of Paragraph 9 of the heads of the Ultimate Financial Settlement as regards the deficit in the Unemployment Fund of the United Kingdom on 31st March, 1922, whether the sum ascertained on foot thereof has been handed over, and if he can further state the rate of interest paid thereon, and the extra amount involved to the National Exchequer.
CEISTEANNA—QUESTIONS. ORAL ANSWERS. - ULTIMATE FINANCIAL SETTLEMENT.
The Saorstát liability in respect of the deficit of the Unemployment Fund of the late United Kingdom on the 31st March, 1922, was £272,271. Interest is payable at the rates charged to the Fund for new advances since the 1st April, 1922, namely, the rates which the advances cost the National Debt Commissioners from time to time. Up to the present the rate has varied from 4? per cent. to 5 per cent. Assuming that interest continues to be payable at the rate of 5 per cent. until the liability is discharged the total amount paid by way of interest will be £77,576. The debt is being discharged by quarterly instalments over a period of two years. The first four instalments have been paid.