Kevin Humphreys (Dublin South East, Labour)
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Question 52: To ask the Minister for Finance if he will provide the primary Exchequer deficit, excluding interest payments on debt, and payments for bank recapitalisation and bond redemption on an annual basis from 2007 to 2010 in tabular form, and projections for 2011, 2012 and 2013 that is the annual difference between revenue and current and capital expenditure; and if he will make a statement on the matter. [32604/11]

Michael Noonan (Limerick City, Fine Gael)
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The information requested by the Deputy concerning the Exchequer primary deficit – that is the Exchequer deficit excluding debt interest expenditure – bank recapitalisation payments and bond redemptions for each of the years 2007-2010 is set out in the table. The Deputy should be aware that in 2007, the Exchequer was in primary balance. The Exchequer primary balances are calculated using figures from the annual Finance Accounts.

In 2009 the Exchequer funded a €4 billion capital injection into Anglo Irish Bank. In 2010, the Exchequer provided €625 million to Educational Building Society (EBS) and €100 million to Irish Nationwide Building Society (INBS) by way of special investment shares. This method of investment gave the State extensive powers and full economic ownership of the two building societies. These payments are reflected in the table above as they were sourced from the Exchequer.

Other banking related payments were funded from the National Pensions Reserve Fund (NPRF). Following the frontloading of the 2009 and 2010 Exchequer contributions, the NPRF invested, in 2009, €3.5 billion in each of Bank of Ireland and Allied Irish Banks. In 2010, the NPRF injected a further net €3.7 billion in capital into Allied Irish Banks.

In 2010, €30.85 billion was committed to Anglo Irish Bank, INBS and EBS by way of Promissory Notes. There was no Exchequer expenditure associated with these Notes in 2010. The first Exchequer payments in relation to these Notes took place in 2011.

The most recently published Department of Finance economic and budgetary forecasts are contained in April's Stability Programme Update (SPU). Updated economic and budgetary projections for the period 2011-2015 will be contained in the Medium-Term Fiscal Statement, which will be published tomorrow, Friday, 4th November.