AQW 13468/17-22

Mr Andrew Muir
Alliance Party
North Down

Tabled Date: 26/01/2021
Answered On Date: 15/02/2021
Priority Written: No

Question:
To ask the Minister for the Economy why the Presbyterian Mutual Society had a reduced capital requirement of £7.8 million at the January monitoring round.

Answer:

The department included a negative £7.8 million in the January monitoring round against the Presbyterian Mutual Society (PMS) however this is not a reduced capital requirement but a capital receipt of funds repayable in respect of the loan arrangement between the Department and PMS. This was an expected capital repayment from PMS to the department. The Department of Finance requires that receipts are shown as a negative in monitoring rounds.