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Dáil Éireann díospóireacht -
Thursday, 5 Apr 1979

Vol. 313 No. 8

Written Answers. - Intervention Sales.

212.

asked the Minister for Finance (i) the date on which his Department became aware of sales from intervention, the net receipts for which were contained in the 1979 revenue estimates; (ii) the date on which the proceeds of such sales from intervention were received by the intervention agency; and (iii) the balance of funds held by the intervention agency and the Department of Agriculture at 31/12/'77 and 31/12/'78.

The figure for receipts from the intervention agency which is quoted in the 1979 Estimates of Receipts and Expenditure is not directly related to the level of intervention transactions in 1979. The figure refers to outstanding Exchequer advances which the agency is expected to repay during the year. In the past, the agency's capital requirements have been obtained from both Exchequer and non-Exchequer sources. It is expected that during 1979 the agency will be able to finance its entire transactions including the repayment to the Exchequer from non-Exchequer sources i.e. sale of produce and bank borrowing.

The balance on the agency's capital account was £0.26 million at 31 December 1977 and £20.1 million at 31 December 1978.

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