asked the Minister for Finance if in view of the success of the Prize Bonds scheme and to further encourage interest and investment therein he will now consider arranging for draws to be held more frequently with the necessary adjustments in the value of prizes.
Ceisteanna—Questions. Oral Answers. - Prize Bonds Scheme.
3.
I am not satisfied that more frequent draws under the Prize Bonds scheme accompanied by a reduction in the value of prizes, as suggested by the Deputy, would enhance the attractions of the scheme and result in increased investment in it.
As indicated in reply to a previous question from the Deputy on 25th November, 1958, it is necessary that a draw for prizes should be followed by an issue of Bonds to the public. The question of the frequency of the draws and issues is one of the aspects of the scheme which are kept constantly under review, but, having regard to the current level of investment in the Bonds and the additional cost to the Exchequer of more frequent draws and issues, I am not at present prepared to make any change in the existing arrangement under which draws are held twice yearly.