asked the Minister for Finance if he will state the sources of finance for the capital expenditure by the State of £24.6 million in 1950-51 and of £33,000,000 in 1951-52.
Written Answers. - State's Capital Expenditure.
The figures of £24.6 million for 1950-51 and £33,000,000 for 1951-52 are those given in the Financial Statements for 1951 and 1952, respectively. The sources of finance in 1950-51 were as follows:—
|
1950/51 |
|
|
£million |
|
|
American Loan Counterpart Fund |
7.5 |
|
Post Office Savings Bank |
1.9 |
|
Savings Certificates (net principal receipt) |
0.3 |
|
Social Insurance Funds |
0.3 |
|
3½% Exchequer Bonds: |
|
|
Subscriptions by public (Irish and extern) |
10.1 |
|
Subscriptions by Banks |
3.3 |
|
Loan repayments re-issued from Exchequer |
0.3 |
|
Other Sources (net) |
0.9 |
|
24.6 |
|
In 1951-52, apart from £33.2 million in respect of capital expenditure, the following items had also to be financed by borrowing:—
|
£million |
|
|
(a) Deficit on Current Budget (including £2.73 million arrears of fuel losses to 31 March, 1951) |
6.7 |
|
(b) Expenditure on Reserve Stocks for Departments |
0.9 |
|
(c) Redemption of National Loans |
2.1 |
|
£9.7 million |
The gross sum which had to be met by borrowing was, therefore, £42.9 million. The sources of finance were as follows:—
|
1951/52 |
|
|
£million |
|
|
American Loan Counterpart Fund |
24.5 |
|
American Loan Counterpart Fund— |
|
|
Purchase of Stock of Agricultural Credit Corporation Ltd. |
0.4 |
|
Post Office Savings Bank (including sale of sterling securities) |
13.6 |
|
Savings Certificates (net principal receipt) |
0.6 |
|
Social Insurance and other Funds (including sale of sterling securities) |
2.4 |
|
Loan repayments re-issued from Exchequer |
0.7 |
|
Loan repayments re-issued from Local Loans Fund |
0.7 |
|
£42.9 million |
|