AQW 13468/17-22 Written question to the Minister for the Economy
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.
Asked by Andrew Muir MLA on 26 January 2021
- Answered
- Written
- After due date
- Tabled
- 26 January 2021
- Answer due by
- 10 February 2021
- Answered
- 15 February 202120 days after tabling
- Department
- Department for the Economy
- Priority question
- No
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.