§ Sir Bernard Braineasked the Lord Privy Seal what considerations were taken into account by Her Majesty's Government in meeting the agreed budgetary deficit of the Republic of Kiribati during the financial years 1978–79, 265W 1979–80 and 1980–81; and, in particular, what account was taken of the interest from the revenue equalisation reserve fund.
§ Mr. Neil MartenThe Government accept the need to maintain an appropriate level of services and to support constitutional, social and economic development. An annual contribution of $A4.25 million from the interest from the revenue equalisation reserve fund is included in calculating the budgetary deficit. Fifty per cent. of interest in excess of $A5.0 million is also included.
Budgetary assistance was not required in 1978–79.
§ Sir Bernard Braineasked the Lord Privy Seal what amount of development aid is to be given by Her Majesty's Government to the Republic of Kiribati during the period 1 January 1979 to 31 December 1982.
§ Mr. Neil MartenDevelopment aid to the Republic of Kiribati is provided under the terms of the independence financial settlement which made available up to £15.5 million for mutually agreed development projects during the period 1 January 1979 to 31 December 1982.
§ Sir Bernard Braineasked the Lord Privy Seal what special financial assistance was given by Her Majesty's Government to the Republic of Kiribati to meet the agreed budgeting deficit during each of the financial years 1978–79, 1979–80 and 1980–81.
§ Mr. Neil MartenSpecial financial assistance to the Republic of Kiribati has been provided as follows.
1978–79 NIL 1979–80 £497,637 1980–81 £1,260,504