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Dáil
‹ Ceisteanna—Questions. Oral Answers. - National Debt.

National debt figures and scope

Summary

The Minister provisionally estimated national debt at £5,170 million at the end of 1978, compared with £4,219 million in 1977 and £3,612 million in 1976. He said the figures exclude the capitalised cost of public service pensions, which are funded annually from taxation, and believed they exclude local authority debts.

Jim O'Keeffe Mr. O'Keeffe Fine Gael

asked the Minister for Finance the figure for national debt as on 31 December 1978 with comparative figures for the previous two years.

Comment on this
George Colley Minister for Finance (Mr. Colley) Fianna Fáil

The amount of the national debt is compiled at the end of each financial period. Final figures for end-1978 are not yet available. It is provisionally estimated that the level of the national debt as at 31 December 1978 will be of the order of £5,170 million. The national debt figure was £3,612 million as at 31 December 1976 and £4,219 million as at 31 December 1977.

Comment on this
Jim O'Keeffe Mr. O'Keeffe Fine Gael

Would I be correct in thinking from these provisional figures that there was an increase of 25 per cent in the national debt last year over the previous year?

Comment on this

£4,219 million up to £5,170 million, estimated.

Comment on this
Jim O'Keeffe Mr. O'Keeffe Fine Gael

Do these figures include local authority debts and the capitalised cost of public service pensions, or would those be separate figures?

Comment on this

Not the capitalised cost of public service pensions.

Comment on this
Jim O'Keeffe Mr. O'Keeffe Fine Gael

Do they include local authority debts?

Comment on this

I believe they do not.

Comment on this
Jim O'Keeffe Mr. O'Keeffe Fine Gael

Are there any figures or estimates available in regard to the capitalised cost of public service pensions?

Comment on this

They are not capitalised. They are funded annually out of taxation.

Comment on this