Joan Burton (Dublin West, Labour)
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Question 368: To ask the Minister for Defence the amount of interest paid by him in respect of the late payments for goods or services contracted by his Department for the past five years to date in 2009; the steps being taken to ensure that money is appropriately spent and that payments are made on time; and if he will make a statement on the matter. [25859/09]

Willie O'Dea (Limerick East, Fianna Fail)
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Details of the amount of interest paid in respect of late payments for goods and services supplied to my Department and the Defence Forces for the years 2004 to 2008 and January to May 2009 are as follows:

My Department complies with the provisions of the Prompt Payment of Accounts Act 1997 and the European Communities (Late Payment in Commercial Transactions) Regulations 2002. It is my Department's policy to settle all invoices promptly with due regard to contractual terms where applicable, good financial and cash management practices and the provisions of the Act and Regulations. The amount of interest paid is very small in relation to the overall value of payments made for goods and services by my Department which amounted to some €234m in 2008.