Written answers

Tuesday, 6 July 2021

Department of Education and Skills

Departmental Data

Photo of Noel GrealishNoel Grealish (Galway West, Independent)
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411. To ask the Minister for Education and Skills the amount of interest his Department has been charged for savings or other funds on deposit in Irish banks since negative interest rates were introduced by year; and if he will make a statement on the matter. [35935/21]

Photo of Simon HarrisSimon Harris (Wicklow, Fine Gael)
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The National Training Fund, under the remit of the Department of Further and Higher Education, Research, Innovation and Science, has paid €609,275 negative interest since negative interest rates were introduced. Please see attached table which breaks this down by year. To note that prior to the formation of the Department of Further and Higher Education, Research, Innovation and Science in 2020, the National Training Fund was under the remit of the Department of Education and Skills.

Negative Interest paid on NTF Funds

Year
Negative Interest €
2015
223,140
2016
232,531
2017
104,248
2018
15,504
2019
11,962
2020
11,991
2021 (to 30/06/21)
9,900
Total
609,275

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