Written answers
Wednesday, 27 October 2010
Department of Finance
Fiscal Policy
8:00 pm
Olivia Mitchell (Dublin South, Fine Gael)
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Question 194: To ask the Minister for Finance the percentage loss of consumer spending power resulting from tax and price index changes since the budget of October 2008; and if he will make a statement on the matter. [38675/10]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
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Taking into account the various indirect tax changes, the consumer price index fell by 5.9 per cent between October 2008 and September of this year, thus supporting consumer spending power. Over this period there have been some increases in direct taxes, notably with the introduction of the income levy. However, it is not possible to say what the precise impact has been as this would require an assessment of various income deciles etc. What is clear is that overall price levels have fallen and thus supporting living standards economy wide.
Olivia Mitchell (Dublin South, Fine Gael)
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Question 195: To ask the Minister for Finance in respect of Anglo Irish Bank, the value of bonds, both senior and subordinated, that matured and were redeemed at full face value in the period between September 2008 and September 2010; the number and the negotiated price paid for bonds, of any variety, which were redeemed prior to maturity in the period between September 2008 and September 2010; if there is any reason this information should be withheld from the public; and if he will make a statement on the matter. [38676/10]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The information requested by the Deputy is set out in the tables following: 1. Value of bonds that matured and were redeemed at full face value in the period between September 2008 and September 2010:
| Type | Value € |
| Senior Bonds | 14.6 bn |
| Subordinated Bonds | NIL |
2. Subordinated Debt Bought Back Prior to Maturity (30/09/2008 - 30/09/2010)
| Dated Subordinated Debt | Nominal Repurchased€ | % of par value |
| €750m Floating Rate Subordinated Notes 2014 | 388,295,000 | 55% |
| Total | €388,295,000 | |
| Undated Subordinated Debt | ||
| Stg £200m Step-up Callable Perpetual Capital Securities | 205,355,421 | 27% |
| Stg £250m Tier One Non-Innovative Capital Securities | 249,686,277 | 27% |
| €600m Perpetual Preferred Securities | 403,247,000 | 27% |
| Stg £300m Step-Up Perpetual Subordinated Notes | 295,892,665 | 37% |
| €600m Fixed / Floating Perpetual Preferred Securities | 525,741,000 | 27% |
| Stg £350m Fixed/Floating Rate perpetual Preferred Securities | 390,760,765 | 27% |
| €2,070,683,128 | ||
| Total | €2,458,978,128 |
3. Senior Bonds: Bought Back Prior to Maturity (30/09/2008 - 30/09/2010)
| Notional Amount Issued€ | Final Maturity | Nominal Repurchased€ | % of par value |
| 1,250,000,000 | 25/01/2012 | 73,000,000 | 94% |
| 3,685,000,000 | 09/09/2010 | 75,000,000 | 99.87% |
| 1,000,000,000 | 11/02/2011 | 29,683,121 | 93.5% |
| €177,683,121 |
Notes:
· The exchange rates used are as of the final day of the month of the "buy-
back" for the corresponding bond.
· All the bonds repurchased are accounted for in the bank's published
financial reports.
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