Foreign debt interest payments
The Minister reported external interest payments of £99 million in 1977, rising to an estimated £340 million in 1981. Kelly repeatedly asked whether the Minister was satisfied with the upward trend, but the Minister declined to address that directly and referred to other questions on borrowing.
asked the Minister for Finance the amount of money paid externally in interest payments on the foreign debt of the Exchequer and semi-State bodies in each of the last four years; and the projected figure for 1981.
Comment on this
The following is the information requested by the Deputy:
In 1977, £99 million; 1978, £131 million; 1979, £141 million; 1980, £240 million.
The figure for 1981 is estimated at £340 million based on current interest and exchange rates.
Comment on this
I have replied to the question put down by the Deputy. These payments, as the Deputy is well aware, are the interest payments by the Exchequer and by the semi-State bodies on borrowings. I have, many times, outlined this Government's policy on borrowings. There are other questions down on that subject, in case the Deputy is not so aware.
Comment on this
Surely I am within my rights, narrow though these may have become, in asking whether the Minister is happy with the trend in the amount of foreign borrowing and in interest payments which foreign borrowing implies.
Comment on this
These are related to foreign borrowings and these are payments on foreign borrowings.
Comment on this
There are questions coming up on that subject and the Deputy will then be at liberty to ask me all the questions he likes.
Comment on this
Is that a reason why I cannot pursue the Minister with a very simple question? Is the Minister satisfied or not satisfied with the trend disclosed by the figures which he has given to the House?
Comment on this
I am asking the simplest possible supplementary question and the Minister is ignoring me.
Comment on this
The Deputy cannot keep asking the same question over and over again. I am not responsible for the Minister's answers.