Mairead Farrell (Galway West, Sinn Fein) | Oireachtas source

Gabhaim buíochas as sin. I have a question arising from a question Deputy Tóibín asked in the previous session. I took a quick look at the audited financial statements of Premier Lotteries Ireland. It was a brief look so I am open to correction if I have got this wrong but, from what I can see, PLI paid no tax in 2019. It actually got a refund of €100,000. It paid tax in 2020. I note from its financial statements that the shareholders of PLI have given it significant loans. Note 19 in the financial statements says that non-current liabilities, which total approximately €250 million "represent the balances repayable to the Company’s shareholders [...] which are repayable by 2034 and bear interest at a rate of 9%." Obviously, we know that interest rates are extremely low at the moment. This is a very high rate of interest for a company such as Premier Lotteries Ireland to charge. It is above market rates. Why would shareholders charge a company that they own such a high rate of interest? Is Ms Boate concerned that such interest rate payments may be reducing the money that is due to the taxpayer?