Vol. 536 No. 4
12 Proinsias De Rossa asked the Minister for Finance the total cost of the newspaper advertisement promoting the new special savings incentive scheme, featuring a photograph and message from the Minister; and if he will make a statement on the matter. [14228/01]
Some £98,509.85 is payable to Brindley Advertising Ltd., for services in placing the newspaper and radio advertising. Brindley Advertising Ltd. holds the current Government advertising contract. This invoice has not been received by the Department yet. Some £6,300 is payable to EURO RSCG Ireland Limited for the design of the newspaper advertising and the supply of the copy for the radio advertising. This invoice has not been received by the Department yet. Two tender competitions were competed for regarding the placement of the radio advertising and the design for the newspaper advertising and the copy for the radio advertising.
Does the Minister agree that the promotion of this scheme exceeds what one would normally expect in circumstances of this kind and amounts to little more than pre-electoral advertising of the Minister's own position? Can the Minister point to a precedent where a former Minister – or even he himself, should he have done so – went on radio specifically to advertise a scheme being introduced?
This advertising campaign aims to ensure that the public is made aware that the Government will not be underwriting these accounts and that they are offered by financial institutions. Individual financial institutions are advertising the attractiveness of their various products. The primary purpose of the advertising campaign in which I have a small role is to ensure the Government is not seen as underwriting these products. I said at the time I introduced this initiative that I hoped there would be a major take up. I said the market would offer great products, and it has done so. The greater the take up, the greater the cost to the Exchequer, but encouraging people to save on a regular monthly basis is very worthwhile. The primary purpose of those advertisements was as I have indicated.
Does the Minister not agree that his personal appearance on these advertisements is counterproductive? Does he not realise he is more associated with gambling and betting than saving?
And successful at it.
I am associated with many things.
Does the Minister agree that it gives rise to public cynicism when they see large numbers of glossy documents produced to advertise the new tax changes in the budget at the start of April at some considerable cost to the taxpayer, most of which, incidentally, seem to have been circulated to the Fianna Fáil and Progressive Democrats press offices for circulation to individual constituencies?
No, we are getting mixed up.
Is taxpayers' money not being used for—
That is a separate question relating to the budget 2001 update. That initiative was founded by my predecessor, Deputy Quinn, whose glossy brochure cost a lot more. We have a cheaper newspaper which has better effect and wider distribution at about one third of the cost. That is a separate question. This has to do with the special savings accounts.
Written Answers follow Adjournment Debate.
