Dáil Éireann - Volume 40 - 19 November, 1931

Ceisteanna—Questions. Oral Answers. - Electricity Supply Board Advances

Mr. Lemass Mr. Lemass

Mr. Lemass asked the Minister for Finance to state the different dates, numbers of years, amounts of half-yearly payments, and times appointed by him under Section 14 of the Electricity (Supply) Act, 1927, for the repayment by the Electricity Supply Board of the advances from time to time made to it out of the Central Fund; to further state whether any repayments have yet been made by the Board, under the aforementioned section; and, if so, to state how the sums thus repaid have been allocated in relation (1) to the several advances made to the Board; and (2) the amortisation of the capital cost of the several parts of the undertaking.

Mr. Lemass Mr. Lemass

Mr. Lemass asked the Minister for Finance to state the different dates, numbers of years, amounts of half-yearly payments, and times appointed by him under Section 15 (4) of the Electricity (Supply) Act, 1927, for the repayment by the Electricity Supply Board of the advances from time to time made to it out of the Central Fund; to further state whether any repayments have yet been made by the Board, under the afore-mentioned section; and, if so, to state how the sums thus repaid have been allocated in relation (1) to the several advances made to the Board; and (2) the amortisation of the capital cost of the several parts of the undertaking.

Mr. MacEntee Mr. MacEntee

1754

Mr. MacEntee asked the Minister for Finance to state what sums have been paid under Sections 13 and 15 of the Electricity (Supply) Act, 1927, to the [1754] Minister by the Electricity Supply Board (1) during the current financial year; and (2) during each preceding year, in respect of interest upon advances; to state also whether the Board is in arrear with any payment.

Mr. Lemass Mr. Lemass

Mr. Lemass asked the Minister for Finance to state what are the respective rates of interest appointed by him under Section 15 (3) of the Electricity (Supply) Act, 1927, to be paid upon sums from time to time advanced to the Electricity Supply Board out of the Central Fund; to state the actual sums from time to time thus advanced, the sums from time to time paid by the Board by way of interest upon such advances, and whether any such latter sums, and, if so, which, were paid by the Board out of moneys advanced to it out of the Central Fund.

Mr. Lemass Mr. Lemass

Mr. Lemass asked the Minister for Finance to state what are the respective rates of interest appointed by him under Section 13 of the Electricity (Supply) Act, 1927, to be paid upon sums from time to time advanced to the Electricity Supply Board out of the Central Fund; to state the actual sums from time to time thus advanced, the sums from time to time paid by the Board by way of interest upon such advances, and whether any such latter sums, and, if so, which, were paid by the Board out of moneys advanced to it out of the Central Fund.

Minister for Finance (Mr. Blythe) Ernest Blythe

Minister for Finance (Mr. Blythe): I propose to take Nos. 1, 2, 3, 4, and 5 together. I am circulating with the Official Report a table containing most of the information for which the Deputies have asked.

I would add that I have not yet appointed any dates, periods or amounts for the repayment of advances by the Electricity Supply Board under Sections 14 and 15 of the Electricity (Supply) Act, 1927; in any event such repayments could not commence before the 1st January, 1933.

Interest is being charged on advances at the rate of 5½ per cent. per annum. Interest payments are not at present in arrear.

1755

[1755] I am not in a position to say to what extent interest payments by the Board were made from moneys advanced to it out of the Central Fund. Apart from other considerations, it is possible, as the Deputy will appreciate, that the Board, in anticipation of advances, occasionally used its revenue to meet commitments in respect of capital expenditure. Any payments made in respect of interest from the Shannon Fund before the transfer of the Shannon works to the Board were, of course, made from sums advanced out of the Central Fund as the Shannon Fund had no other source of income.

The following is the table referred to:—

CENTRAL FUND ADVANCES.

Interest Payments to the Minister for Finance.

Dáil Éireann 40 Ceisteanna—Questions. Oral Answers. Electricity Supply Board Advances

Questions

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