asked the Minister for Finance if in view of a recent statement that the last national loan was a near failure, he will make a statement on the matter.
Ceisteanna—Questions. Oral Answers. - National Loan.
11.
The last national loan was issued for a nominal amount of £25 million. An application was made on behalf of Departmental Funds for £5 million leaving £20 million available for public subscription. Firm applications from life assurance offices amounted to £3.9 million and applications from other subscribers amounted to £16,437,000, making a total public subscription of over £20.3 million. To enable these applications to be met in full, the application on behalf of Departmental Funds was reduced. Instead, therefore, of the loan being a "near failure", it was oversubscribed to the extent of £337.
£337 in a loan of £25 million?
I should have said £337,000.
That was a bad miss.