Written answers
Wednesday, 28 February 2024
Department of Finance
Prize Bonds
Bernard Durkan (Kildare North, Fine Gael)
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28. To ask the Minister for Finance the total value of funds invested in prize bonds in each year from 2014 to date; the total value of prizes won in the same period; the total value of prizes won from 2014 to date expressed as a percentage of the total funds invested in prize bonds; how this percentage compares to interest rates on savings during the same period; and if he will make a statement on the matter. [9464/24]
Michael McGrath (Cork South Central, Fianna Fail)
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In answer to the Deputy's question the National Treasury Management Agency (NTMA) have provided me with the attached table detailing prize bonds from 2014 to date.
NTMA Response to PQ 9464/24
The total value of funds invested in Prize Bonds in each year from 2014 to date; the total value of prizes won in the same period and the total value of prizes won from 2014 to date expressed as a percentage of the total funds invested in Prize Bonds are included in the table below.
| PRIZE BONDS - 2014 - 2023 | |||
|---|---|---|---|
| YEAR | Amount Invested (Million) | Prize Values (Million) | Prize values as an percentage of Amount Invested |
| 2014 | 2,176 | 31.7 | 1.46 |
| 2015 | 2,481 | 28.9 | 1.16 |
| 2016 | 2,894 | 28.0 | 0.97 |
| 2017 | 3,170 | 21.3 | 0.67 |
| 2018 | 3,415 | 16.4 | 0.48 |
| 2019 | 3,65 | 17.6 | 0.48 |
| 2020 | 4,103 | 19.2 | 0.47 |
| 2021 | 4,443 | 15.6 | 0.35 |
| 2022 | 4,695 | 16.0 | 0.34 |
| 2023 | 4,652 | 24.1 | 0.52 |
The interest rate used to calculate the Prize Bond prize fund seeks to ensure that Prize Bonds remain competitive in the savings market generally, whilst providing good value to the Exchequer in terms of borrowing costs
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