Saturday October 24, 2020

Prize Bond scheme costs more than borrowing

The Prize Bond scheme, which was originally set up as a cheap way for the government to raise money, now costs more than conventional borrowing on the open market.

4th February, 2006

The Prize Bond scheme, which was originally set up as a cheap way for the government to raise money, now costs more than conventional borrowing on the open market.

The Prize Bond Company, a joint venture between Kerry-based payments group Fexco and An Post, said last week that it paid out €12.5 million in prizes last year. Chairman Michael O’Keeffe said monthly prizes passed the €1 million mark for the first time.

But...

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