asked the Minister for Local Government (a) the amount of debt of the Cork Corporation on 31st December, 1956, (b) the amount of principal repaid and interest paid in the year ended 31st December 1956, and the amount of principal and interest outstanding on 31st December, 1956, (c) the increase in the corporation's debt between 1st January 1957 and 31st December 1965, and (d) the amount of principal repaid and interest paid on this increase and the amount of principal and interest outstanding on 1st January 1966.
Ceisteanna—Questions. Oral Answers. - Cork Corporation Debt.
31.
While information in the form requested is not available, I understand that the total gross indebtedness of Cork Corporation at 31st March, 1957, which corresponded to the amount of principal outstanding, was £5,336,751. There was no amount outstanding in respect of interest payments which are met in full as they fall due. In 1956-57 repayments of principal amounted to £87,548 and payments of interest amounted to £198,468. Between the 1st April 1957 and 31st March, 1965, the total gross indebtedness increased by £4,190,872 to £9,527,623. Separate figures for the principal repaid and interest paid in respect of that increase are not available.
They will be going bust along with the Government, if they do not look out.