Dublin will still be in hock to London until 2021

Gregory Campbell asks: When will ROI pay back UK in full?

It’s part of a 67.5bn euro international package agreed in 2010.

DUP MP Gregory Campbell asked the Chancellor of the Exchequer George Osborne when the UK’s loan to the Irish Republic will be repaid in full.

The Economic Secretary to the Treasury Nicky Morgan, replying on the Chancellor’s behalf, said Dublin would still owe London until 2021.

She explained: “The UK agreed in 2010 to provide a bilateral loan to Ireland of £3.2 billion as part of an international financial assistance package of 67.5 billion euros.

“The loan was disbursed in eight tranches of £403.37 million each. Each tranche has a maturity of 7.5 years from the date of disbursement.

“The final tranche was disbursed on September 26, 2013 and the final principal repayment of the loan is due on March 26, 2021.

“In accordance with the Loans to Ireland Act 2010, HM Treasury reports to Parliament every six months including information on principal and interest payments.”