Jack Wall (Kildare South, Labour)
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Question 53: To ask the Minister for Finance when he expects the national solidarity bonds, as announced in budget 2010, to be available for subscription; and if he will make a statement on the matter. [11646/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I announced in Budget 2010 that the Government intended to introduce a National Solidarity Bond. This bond will effectively be a new form of our state savings products which are aimed at the retail investor. We already have savings bonds and savings certificates, which are three and five and a half year investment products managed by the National Treasury Management Agency. The new bond will be a longer-term product which will be attractive to people who wish to invest for up to 10 years. Where an investor wishes to encash their investment before the final maturity date of 10 years they will be able to do so.

The structure is quite innovative – there will be an annual interest payment and a final redemption bonus payable. The final investment bonus will be payable to investors who encash their bonds after five, seven or ten years. Legislative provisions relating to the introduction of the National Solidarity Bond are included in the Finance Bill which is expected to become law by early April. I expect that, by mid-April 2010, information on the Bond will be available in Post Offices, on the internet and by telephone and that the Bonds themselves will be available for purchase in any Post Office.