Vol. 521 No. 4
54 Mr. Higgins (Dublin West) asked the Tánaiste and Minister for Enterprise, Trade and Employment the amounts paid to each bank or financial institution or other agents of the £188 million hidden interest on the debt of £164 million of Nitrigin Éireann Teoranta since 1987. [17153/00]
As is required under section 7(4) of the Nitrigin Éireann Teoranta Act, 1963, a statement of guaranteed borrowings by NET is submitted to the Houses of the Oireachtas each year. This statement sets out particulars of the principal outstanding on each loan covered by guarantee. The latest statement entitled "Statement Regarding Guarantees by the Minister for Enterprise, Trade and Employment of Borrowings by Nitrigin Éireann Teoranta" was laid before the Houses of the Oireachtas on 30 May 2000.
Since 1987, one of NET's main functions has been the management of the State guaranteed debt. In view of this debt management role, the arrangements for payment of interest on the loans is a day-to-day operational matter for NET. I have, therefore, requested the chief executive of NET to write to the Deputy as soon as possible with details of the interest payments.
