asked the Minister for Finance if he will express, as a percentage proportion of total tax revenue in each respective year, the cost of interest payments on total State debt in (a) 1976, (b) 1977 and (c) 1980.
Ceisteanna—Questions. Oral Answers. - State Debt.
32.
The figures requested by the Deputy are: 1976, 21 per cent; 1977, 23 per cent; 1980, 27 per cent. The 1980 figure is based on the budget estimates.
Would the Minister not agree that the true figure for 1980 will be somewhere in excess of this figure?
No, I would not. I can tell the Deputy that we are on target and that it will be something of that order.
I know the expression "of that order", from one to two figures and from two to three figures.
It might be somewhat less, it might be somewhat more.
Will it be 27 per cent? Would the Minister not agree that to advance within three years from 23 per cent to 27 per cent represents a collossal slice of the annual tax income being handed away, mostly abroad.
This is argument, Deputy.
Would the Minister not accept that this is a highly undesirable position?
It is exactly in line with what I projected in the budget. When the figures emerge they will show——
Question No. 33.
The figures have now become worse by from one-fifth to one-sixth.
The Deputy is obsessed with history today. I am concerned with the present.
He thinks he is making a bit of history.
The Minister is off to Brussels on 5 January.
And good luck to him.
He will have a better time.
Would Deputy Kelly please resume his seat?
I wish the Minister all the best in Brussels.
He is going out in time.