Oireachtas Joint and Select Committees

Thursday, 10 October 2019

Public Accounts Committee

Business of Committee

9:00 am

Photo of Catherine MurphyCatherine Murphy (Kildare North, Social Democrats) | Oireachtas source

I wish to raise one issue on the national debt with regard to the chart on page 3 of the correspondence. I am aware that a lot of it has been refinanced and that some of this is short term, but a sizeable amount is at very high interest rates, especially when one considers the current negative interest rates. One is almost paying banks to hold money now. Some of this is at 4%, 5% and 6%. I know that some of the debt is legacy and some of it is probably longer term, but I had expected to the see the profile of this being lower. There are, however, sizeable chunks that are at the higher rate.

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