Overseas Loans: Republic of Ireland

HM Treasury written question – answered on 24th March 2017.

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Photo of Lord Kilclooney Lord Kilclooney Crossbench

To ask Her Majesty’s Government what is the outstanding amount of the UK loan to the government of Ireland; how much interest on that loan has been paid to the UK by the government of Ireland; and when that loan will be paid off.

Photo of Baroness Neville-Rolfe Baroness Neville-Rolfe The Commercial Secretary to the Treasury

I refer the noble Lord to the most recent statutory report on the UK’s bilateral Loan to Ireland, which the Treasury provided to Parliament as required by Section 2 of the Loans to Ireland Act 2010. The last report was laid in Parliament on 13 October 2016 and is available in the Printed Paper Office[1].

This report shows the outstanding principal is £3,226,960,000, with repayments due in tranches from 15 April 2019 until 26 March 2021. An interest payment was made by the Republic of Ireland on 15 December 2016, and therefore the interest payments received now total £357,822,962.56.

[1] The report is available here: https://www.gov.uk/government/publications/report-under-section-2-of-the-loans-to-ireland-act-2010-1-april-2016-to-30-september-2016

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