119 Mr. Hilliard asked the Minister for Finance the non-tax revenue under the heading of miscellaneous for £25.269 million in 1995 and £17.074 million in 1996. [3843/96]

The following table gives a breakdown of the items included in the 1996 White Paper on Estimates of Receipts and Expenditure under the "Miscellaneous" heading:

120 Mr. Hilliard asked the Minister for Finance the reason it is estimated that the non-tax revenue from the Central Bank will increase from £109.5 million in 1995 to £172.5 million in 1996; and if he will explain the term surplus income. [3844/96]

The Central Bank earns income from the investment of its assets. Against this income, it pays out interest to depositors (mainly government and credit institutions) and operational costs such as wages and salaries. The balance represents the surplus income, or profits, of the Bank. Under the Central Bank Surplus Income Regulations, 1943, the Bank may transfer up to 20 per cent of its trading profits to reserves and may also make provisions for depreciation and superannuation reserves. The balance is paid to the Exchequer and constitutes the item "Central Bank surplus income" to which the Deputy refers.

The Exchequer receipts of Central Bank Surplus income in a given year are equal to the previous year's surplus income calculated in accordance with the aforementioned Regulations. Thus the 1995 receipt is calculated by reference to the 1994 accounts, while the forecast increase in 1996 is based on the projected 1995 outturn. Although the audited accounts for 1995 were not available, it was estimated for the purposes of the budget that the transfer to the Exchequer on foot of the 1995 surplus income would amount to £172.5 million. This increase can be explained by 3 main factors, viz.

— the underlying profitability of the Bank has increased;

121 Mr. Hilliard asked the Minister for Finance the reason the non-tax revenue for interest and dividends on Exchequer advances reduced from £76.48 million in 1995 to £51.244 million in the 1996 Budget. [3845/96]

The following table gives a breakdown of the items included under the heading "Interest and Dividends on Exchequer Advances" in the 1996 White Paper on Estimates of Receipts and Expenditure: