Vol. 304 No. 9
asked the Minister for Economic Planning and Development the estimated cost of remunerating and repaying borrowings in 1979 and 1980 on the basis of the figures in National Development, 1977-1980 and assuming that interest rates remain at their present level.
17.
asked the Minister for Economic Planning and Development if he will state in current money terms the projections for borrowing in 1979 and 1980 based on the percentages of GNP in National Development, 1977-1980, and the GNP estimates in current money terms for these years based on the price and GNP growth figures in this White Paper.
With the permission of the Ceann Comhairle, I propose to take Questions Nos. 16 and 17 together.
The projections for borrowing in 1979 and 1980 based on the percentages of GNP in National Development, 1977-1980 are £751 million and £648 million respectively, in current money terms. The estimated GNP figures in current money terms for 1979 and 1980 are £7,150 million and £8,100 million respectively.
The estimated cost of remunerating borrowings on the basis of the figures in National Development, 1977-80, and assuming that interest rates remained at their present level, is £25 million in 1979 in respect of the borrowing in that year and £22 million in 1980 in respect of the borrowing in that year; the estimated cost of repaying such borrowings depends on factors such as the terms decided upon when the borrowings are being arranged so that an estimate of such repayments is not available at this juncture.
