Monday 23 April 2018

Servicing national debt cost just under €1bn in 2010 – state spending watchdog reporters

The state paid just under €1bn servicing the national debt in 2010 while total expenditure was €53.8bn, a reduction of 9.5pc on the previous year.

Of that spending, €725m was used to increase the state’s stake in the banks.

€4.8m was paid to political parties under the Electoral Act, according to a new report from the state spending watchdog the Comptroller & Auditor General’s office.

However, the watchdog criticized how bodies like the National Roads Authority for not spending its grant allocations by year end.

The report said cash management of this kind did not seem consistent "with the principle of economy in the management of State funds".

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