Dáil
‹ Ceisteanna—Questions. Oral Answers. - State Revenue Deductions. Repayment of State debt
Summary
Colley said no revenue would go to State debt repayment, apart from sinking-fund payments used to finance the capital budget; repayment from revenue would imply a surplus.
asked the Minister for Finance the amount of State revenue which will be absorbed in the repayment of State debt in the current year as a proportion of £1.
Comment on this
No State revenue will be absorbed in the repayment of State debt in the current year, other than payments into sinking funds which are used towards the financing of the capital budget in the current year. If State debt repayments could be met out of revenue it would mean that not only had the Exchequer no borrowing requirement but that it was actually running a surplus.