asked the Minister for Health if he will state (a) the total assets of the Hospitals' Trust Fund; (b) the amount invested and the annual income from investments; (c) the amount required to meet the deficits of the voluntary hospitals in the current year, and (d) the amount available for capital expenditure.
Ceisteanna—Questions. Oral Answers. - Hospitals' Trust Fund.
The latest balance sheet in respect of the Hospitals' Trust Fund shows that on the 31st December, 1948, the total assets of the fund stood at £10,311,382 1s. 11d. The total amount invested at that date was £9,783,295 6s. 3d. Dividends from investments totalled £308,649 9s. 11d. for the year 1948.
It is not possible to say at this stage what the deficits of the voluntary hospitals will amount to in 1949. In 1947 the deficits totalled £334,447. The estimated figure for 1948 is £420,000.
The full amount of the fund is available for capital expenditure.
Will the Minister agree that it is more desirable that the money should be expended rather than invested in depreciating sterling securities?
Would the Minister be able to tell the House to what extent the amount of money available has been already committed on schemes sanctioned?
In reply, first, to Deputy Lehane's supplementary, it appears to me to be obvious, simply from the facts available to me at the moment, that all institutional beds— whether in hospitals, sanatoria or wherever they may be—now cost practically twice as much as what they cost before the war. It is desirable that that should have gone on during the war. I feel that the loosening of this capital now is a very necessary and desirable development in view of the depreciation of sterling generally. With regard to the supplementary question put by Deputy Briscoe I would say that the deficits up to the present have been paid from the Hospitals' Trust Fund. The future arrangements in respect of such payments are under consideration at the moment in my Department and I shall be in a position to make a statement at a later date.
That answer is in reference to income which is used to make up the deficits of the hospitals, but, in connection with the capital available for capital expenditure, to what extent has that been committed for schemes already sanctioned?
I think the reply to the next question will cover the Deputy's point.